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MOODY v. STATE EX REL. DeBELIS

84-1335.

487 So.2d 852 (1986)

Shearn MOODY, Jr. and W. Steve Smith, as trustee in bankruptcy for Shearn Moody, Jr. v. STATE of Alabama, ex rel. Michael DeBELLIS, Commissioner of Insurance of the State of Alabama, as receiver of Empire Life Insurance Company of America; and Protective Life Insurance Company.

Supreme Court of Alabama.

Opinion Released April 4, 1986.

Attorney(s) appearing for the Case

Michol O'Connor, of Haight, Gardner, Poor & Havens, Kenneth T. Fibich, of Bonham, Carrington & Fox, Houston, Tex., and William Mills and Stephen W. Shaw, of Redden, Mills & Clark, Birmingham, for appellants.

William A. Robinson, of Cabaniss, Johnston, Gardner, Dumas & O'Neal, Birmingham, for appellee Protective Life Ins. Co.

James W. Webb, of Webb, Crumpton, McGregor, Schmaeling & Wilson, Montgomery, for Receiver of Empire Life Ins. Co. of America.

PER CURIAM.

The appellants, Shearn Moody, Jr., and W. Steve Smith, as Moody's trustee in bankruptcy, appeal from a judgment rendered in Jefferson County Circuit Court in the receivership action of Empire Life Insurance Company ("Empire"). The judgment was rendered in response to a counterclaim filed by the appellants, and it orders certain distributions of Empire's funds to approved creditors. We affirm.

In 1972, Empire was found to be in a very poor financial...

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