AICI Capital Trust 9% Pfd (fka AICPQ)

[goldcanyon341]

The Court Hearing has concluded.

Sale at $4,000,000 subject to the the two approvals described by Enterprising Investor:
" The Sale Closing is conditioned upon: (a) the approval of the Form A filed by the Successful Bidder with the Nebraska Department of Insurance and (b) a final and non-appealable Order from the State Court, dismissing the Estate's subsidiary, Acceptance Insurance Company from its rehabilitation proceedings."

The most interesting part of the court hearing occurred when Rick Myers said the Nebraska Insurance Commissioner's Office had indicated the company was ready to come out of rehabilitation on its own because Acceptance Insurance management had done a good job of rehabilitation.