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IN RE LIFE INS. CO. OF ALASKA

No. S-10503.

76 P.3d 366 (2003)

In re LIFE INSURANCE COMPANY OF ALASKA, in receivership.

Supreme Court of Alaska.

August 22, 2003.

Attorney(s) appearing for the Case

Timothy A. McKeever and Colby J. Smith, Holmes, Weddle & Barcott, Anchorage, for Appellant Carpenter Financial Group, Inc.

Mark A. Sandberg, Sandberg, Wuestenfeld & Corey, Anchorage, for Receiver Robert A. Lohr, Director, State of Alaska, Division of Insurance.

Before: FABE, Chief Justice, MATTHEWS, EASTAUGH, BRYNER, and CARPENETI, Justices.

OPINION

EASTAUGH, Justice.

I. INTRODUCTION

During liquidation of a life insurance company, a claimant sought recovery of $500,000 which the claimant contended it had paid to the insurer in exchange for a surplus note. The receiver denied the claim. When the claimant objected to the denial, the superior court conducted an evidentiary hearing; finding that the claimant had been repaid, it denied the...

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