Pacific Marine Insurance Co. v. Harvest States Cooperative

EASTAUGH, J., not participating.

Before MOORE, C.J., and RABINOWITZ, MATTHEWS and COMPTON, JJ.

OPINION

MOORE, Chief Justice.

I. INTRODUCTION

Appellant Pacific Marine Insurance Company of Alaska (“PacAk”) has been in liquidation pursuant to AS 21.78.090(b) since July 1989. This case involves an asset which PacAk purports to own. The receiver for PacAk claims that an annuity purchased by PacAk to fund a workers’ compensation claim was unlawfully transferred to an irrevocable Oregon trust, with an Oregon trustee and a Washington beneficiary.

PacAk filed a motion to set aside and terminate the…