If the proposed sale of Clanwilliam is approved by regulators, Grier recommends depositing proceeds (estimated at $318 million) into a court-controlled account under its supervision.
Under the proposal, $108.2 million will be handed over to Bermuda-based insurers seeking to recover losses from investments related to Lindberg. Meanwhile, $172.2 million will be distributed to North Carolina-linked insurance companies and related entities, which are financially affected by the transfer of funds in the insurance tycoon empire.
