Unlicensed Insurer Can't Be Paid $1.6M For Oil Co. Work

Law360 (June 13, 2018, 4:40 PM EDT) -- An Arkansas federal judge on Tuesday gave a quick win to MidCon Gathering LLC in its defense against a suit brought by a man who alleged he developed a credit facility for the company but wasn’t paid $1.6 million he was owed, ruling he didn’t have the necessary insurance license to carry out the deal.

U.S. District Judge Brian S. Miller said that the “credit facility” Stephen Carleson and his company, Producers Credit Protection Group Inc., helped develop was in effect a “credit insurance policy” issued by a third party for MidCon’s benefit. But Carleson does not have a license to...

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