Condemns the insurer fine of $ 115.5 million
Direction: A federal judge a penalty of $ 115.5 million for officers collapsed champion of the insurance company, but the judge warned state officials that they have difficulties, could collect money .
A federal judge a penalty of $ 115.5 million for officers collapsed champion of the insurance company, but the judge warned state officials that they have difficulties, could collect money.
Alabama officials said they would be with the regulatory authorities of Louisiana, to try to get the money, Alabama what was once the fourth largest auto-insurance.
Champion entered liquidation in June 1989, leaving pending auto insurance claims 10,000 customers.
Champion officers were indicted on charges of siphoning $ 37 million.
In the case of a court last week, a Montgomery lawyer, Charles Crook, as a government representative, said a large penalty is a deterrent effect and show other insurance companies”that these issues are monitored .”” It is when you’re already gather once,”Federal District Judge Robert Varone told him.
The penalty
Varone judge was the highest allowed the civil court judgement of provisions of federal law banditry. The judgement is the triple-$ 38.5 million for an estimated cost from the government for the management of Champion’s death.
The family Eicher, which expired insurance company with headquarters in Baton Rouge, La, its assets frozen.
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