The Court, and the presiding Judge, has found enough cause to officially take over “CANNON SURETY”, from the corrupt individuals that were running it. A court order was given on January 2, 2018. To “officially” put Cannon Surety into receivership and appoint Mike Causey as the receiver. He doesn’t know how to do anything with Bail Bonds so I am sure that he will just appoint some attorney to do it for him which is allowed by law. I will post what was ordered by the court so that you can read it and form your own opinion, but it looks like Mark L. Bibbs attorney for the Raleigh Mafia has lost his bid in court to get the company back from the DOI.
Sorry Dallas McClain, Lynette Thompson or Mina Mustin or whoever your real name is and of course Carl Valentine, your cash cow, and criminal organization is gone forever. My only question here is….Hey Mike when are you going to give Robert Brawley his $ 850,000.00 worth of money back?
STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE
WAKE COUNTY SUPERIOR COURT DIVISION
FILE NUMBER. 17 CVS 11692
COMMISSIONER OF INSURANCE
OF NORTH CAROLINA
ORDER OF REHABILITATION;
ORDER APPOINTING RECEIVER;
ORDER GRANTING INJUNCTIVE RELIEF
CANNON SURETY, LLC
A NORTH CAROLINA LIMITED
THIS CAUSE came to be heard and was heard on December 15, 2017, before the undersigned Judge presiding over the Superior Court of Wake County, North Carolina, upon the Verified Petition filed herein on behalf of the State of North Carolina by the Petitioner Mike Causey, Commissioner of Insurance of the State of North Carolina (“Petitioner”), seeking the entry of an Order of Rehabilitation against Respondent Cannon Surety, LLC. (“Respondent”), appointment of a receiver, and injunctive relief; and
Grounds for an Order of Rehabilitation of Respondent have been established by this Court’s Order granting Petitioner’s Motion for Partial Summary Judgment;
IT IS, THEREFORE, ORDERED, ADJUDGED AND DECREED, as follows:
- Mike Causey, Commissioner of Insurance of the State of North Carolina is HEREBY APPOINTED as Rehabilitator of the Respondent Cannon Surety, LLC, pursuant to the provisions of Article 30 of Chapter 58 of the North Carolina General Statutes.
- Pursuant to Article 30 Chapter 58 of the North Carolina General Statutes, title to all assets of the Respondent is hereby vested in the Rehabilitator; and the filing or recording of this Order with the Clerk of Superior Court and the Register of Deeds of the County in which the Respondent’s principal office or place of business is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that Register of Deeds, would have imparted.
- The Rehabilitator is hereby authorized, empowered and directed to take into his possession and control all property, stocks, bonds, securities, bank accounts, savings accounts, monies, accounts receivable, books, papers, records, data bases, print outs and computations, whether stored by microfilm, electronic, optical, magnetic or other means, whether stored in taps, disks, or other media, and all other assets of any and all kinds and nature whatsoever belonging to the Respondent, wherever located, and to conduct Respondent’s business and administer Respondent’s assets and affairs under general supervision of the Court.
- The Rehabilitator is hereby vested with all powers, authority, and duties provided by Article 30 of Chapter 58 of the North Carolina General Statutes.
- Pursuant to North Carolina General Statutes 58-30-85, the Rehabilitator is hereby authorized to appoint a Special Deputy Commissioner to act for the Rehabilitator in connection with this delinquency proceeding against the Respondent and that said Special Deputy Commissioner is authorized to employ at the prevailing customary rates such counsel, clerks or assistants as the Rehabilitator or said Special Deputy Commissioner shall deem to be necessary, or to utilize State employees for said purposes if he has determined that the use of State employees to conduct certain aspects of the rehabilitation is the most cost effective method of administering this delinquency proceeding and that this action benefits the estate and its creditors; and the said Rehabilitator or Special Deputy Commissioner are further authorized to obtain such bonds, errors and omissions type insurance, or excess liability insurance in addition to any such insurance that may be already provided for employees of the North Carolina Department of Insurance, as a reasonably prudent person charged with the Rehabilitator’s duties would deem to be appropriate; and that all expenses of taking possession of Respondent and of conducting the delinquency proceedings against Respondent, shall be paid out of funds of the Respondent pursuant to NCGS 58-30-85.
- The Rehabilitator is authorized, empowered and directed to incur such expenses for communication and traveling expenses for himself, his agents or attorneys as may be necessary in the proper administration of his duties as Rehabilitator and also to incur other expenses as the Rehabilitator may deem advisable or necessary in order to properly conduct and perform his duties as Rehabilitator.
- The Rehabilitator is authorized to accept new business or renewals on behalf of Respondent, in the discretion of the Rehabilitator.
- The Rehabilitator is authorized to notify State and Federal regulators of this action.
9. Mike Causey, Commissioner of Insurance of the State of North Carolina, is HEREBY APPOINTED as Receiver of the Respondent, pursuant to the provisions of Article 38 of Chapter 1 of the North Carolina General Statutes. Said Receiver, is hereby vested with such other powers, authority, and duties as are provided by Article 38 of Chapter 1 of the North Carolina General Statutes.
INJUNCTION AGAINST INTERFERENCE WITH REHABILITATION
10. Injunctive relief pursuant to NCGS 58-30-20 is HEREBY GRANTED prohibiting any person from interfering in any manner with the property or assets of Respondent or with said Rehabilitator in the performance of his duties, and further enjoining and restraining any person from instituting or prosecuting any suit or other action against Rehabilitator or Respondent’s property except by the prior permission of the Court first had and obtained; a stay is hereby granted prohibiting all persons, firms, or corporations with notice of this Court’s Order from obtaining preferences, judgements, attachments, garnishments, or liens against Respondent or its assets, or levying of execution or foreclosure against Respondent or its assets, until further order of the Court; Respondent, its trustees, officers, directors, agents, employees, or third party administrators, and all other persons are enjoined or restrained from disposition, waste or impairment of any of Respondent’s property, assets, or records; that transaction of further business of Respondent is enjoyed unless supervised and approved by the Rehabilitator or his agents or deputies, until further order of the Court; all such persons are ordered to transfer to the Rehabilitator any and all property of Respondent where so ever situated, and Respondent, its trustees, officers, agents, servants, employees, third party administrators, directors or attorneys are enjoyed and restrained from doing or permitting to be done anything which may allow or suffer the obtainment of preferences, judgements, attachments or other liens, or the initiation of a levy against Respondent, without permission of the Court.
11. Any and all pending actions in which the Respondent is a party shall be stayed for 120 days pursuant to NCGS 58-30-90(a).
12. Until further order of this Court, Pursuant to NCGS 58-30-80(b), the Rehabilitator shall make monthly reports to the undersigned Judge of Wake County Superior Court; the Rehabilitator shall include in said report a statement of receipts and disbursements to date and a balance sheet; that this report shall be filed in duplicate; one copy shall be filed with the Clerk of Superior Court and one copy shall be submitted to the Judge presiding over rehabilitation.
13. The official bond of the Petitioner, the Commissioner of Insurance of the State of North Carolina, shall be sufficient to serve for the faithful performance of his duties and obligations herein imposed.
14. This Order shall be effective as of the date it is filed.
15. This cause is retained for further orders.
This 2nd day of January, 2018.
A. Graham Shirley, II
Superior Court Judge Presiding