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MOODY v. STATE EX REL. PAYNE

SC 931, 1268 and 1270.

344 So.2d 160 (1977)

Shearn MOODY, Jr. v. STATE of Alabama ex rel. Charles H. PAYNE, Commissioner of Insurance and Receiver of Empire Life Insurance Co. of America.

Supreme Court of Alabama.

Rehearing Denied April 22, 1977.

Attorney(s) appearing for the Case

Frank G. Newman, for Newman, Shook and Newman, Dallas, Tex., Drayton N. James, for Clark & James, Birmingham, Martin Paul Solomon, New York City, for appellant Moody.

Rogers, Howard, Redden & Mills, Birmingham, for intervenors, W. B. Sanford and G. L. Myers, appellants.

James W. Webb and Edwin K. Livingston, Montgomery, for Charles H. Payne, Receiver of Empire Life Insurance Co.

Drayton Nabers, Jr. Birmingham, for Protective Life Ins. Co.

BEATTY, Justice.

This is an appeal from an adjudication of insolvency, an order of liquidation and approval of a reinsurance agreement as ordered by the Circuit Court of Jefferson County. We affirm.

The material facts of this case are reported in Moody v. State ex rel. Payne, Commissioner, 295 Ala. 299, 329 So.2d 73 (1976), thus only a brief factual review is necessary here.

On April 13, 1972 the Commissioner...

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