In Re the Liquidation of American Mutual Liability Insurance

A single justice of this court has reserved and reported four questions concerning the settlement made by the Commissioner of Insurance (commissioner), acting as the permanent receiver (receiver) of American Mutual Liability Insurance Company and American Mutual Insurance Company of Boston (collectively, American Mutual) with Coopers & Lybrand (Coopers), the former certified public accountant and auditor of American Mutual. That settlement was before the single justice on the receiver’s motion for approval of the settlement.

The background of the report is as follows. On March 9, 1989, after…