Insolvent Insurer's Receiver Properly Refused To Credit Payments, Federal Judge Says

OKLAHOMA CITY - The receiver for an insolvent insurer properly refused to credit payments a professional employer organization (PEO) made to another PEO, an Oklahoma federal judge ruled Nov. 14, finding that the receiver is entitled to summary judgment on its breach of contract claims against the PEO (Pyramid Diversified Services Inc. d/b/a Simple HR v. Providence Property & Casualty Insurance, et al., No. 09-622; State of Oklahoma ex rel. John Doak Insurance Commissioner, as receiver for Park Avenue Property & Casualty Insurance Co. v. Pyramid Diversified Services Inc., No. 12-0457, W.D. Okla.; 2013 U.S. Dist. LEXIS 162317).

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