Nightclub Insurer's Founder Pushes For Rehabilitation Stay

Law360, Wilmington (January 10, 2014, 10:07 PM EST) -- The founder of nightclub insurer Indemnity Insurance Corp. RRG tried to convince the Delaware Chancery Court on Friday to suspend the effect of the company's state rehabilitation proceedings until the state Supreme Court hears an appeal, opposing regulators' contention that the challenge is doomed.

The Delaware Insurance Commissioner entered a seizure petition against IIC — which provides coverage for establishments such as bars, nightclubs and music venues across the country — in May, based on what it claimed was fraudulent misrepresentation of the company's assets and...
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