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"All Mike Causey has to do is approve the pending sale of the insurance companies and policyholders can access their funds," Lindberg says.
ORLANDO, FL, June 22, 2023 /24-7PressRelease/ -- There is only one reason that policyholders of Greg Lindberg's North Carolina insurance companies have not been able to access their full policy benefits: because NC Insurance Commissioner Mike Causey is playing politics, says Lindberg in a newly released video.
"This entire case is politically motivated. Instead of approving the pending sale of my North Carolina Insurance companies Mike Causey continues to pursue scorched earth litigation that harms everyone — including the policyholders he was elected to protect," Lindberg says.
"All Mike Causey has to do is approve the pending sale of the insurance companies and policyholders can access their funds. Instead, he wants to keep litigating so he can use this case for his own political purposes. He is putting his own personal political gain ahead of policyholders," Lindberg says.
Mike Causey admitted to a staffer at NCDOI that he pursued Lindberg out of retaliation for Lindberg's support of his opponent in the 2016 election. And Causey mentioned Lindberg over 100 times in his various campaign events for the 2020 election.
Causey's agents took over 5 months to execute a simple NDA to supply information to a potential buyer and then refused to provide the detailed information that the buyer required to close the deal. Causey is blocking the sale because a sale is contrary to Causey's false claims about the companies, Lindberg says. Regardless, Lindberg says he continues to fight every day to complete the sale of his insurance companies.
Lindberg states that there is a "ready and willing" buyer for his NC insurance companies who has offered to pay "several hundred million dollars" for these companies so that they can be sold and exit rehabilitation immediately. At the time of sale, policyholders will be able to access all their benefits, Lindberg says. "My insurance companies successfully exiting rehabilitation will prove that the allegations about liquidity and questions about their financial strength have been false since day one," Lindberg says.
Given that a buyer has offered to pay hundreds of millions of dollars for Mr. Lindberg's NC insurance companies and a liquidation of them is totally absurd, Lindberg says. The liquidation was filed by Causey's agents only to try to deny Lindberg the opportunity to sell these companies, Lindberg says.
Causey's agents have also attempted to block sales of Mr. Lindberg's assets that will facilitate the sale of the insurance companies. For example, Mr. Lindberg has spent 6 months attempting to sell one asset to a ready and willing buyer for over $400 million but so far Causey's agents have blocked that sale.
In fact, Causey's agents have initiated virtually ALL of the litigation with Mr. Lindberg and his companies. Lindberg says he has tried mightily to settle these litigation matters but Causey's agents have refused to discuss any settlement.
Causey's agents have been litigating to enforce a plan that could keep policyholders from accessing their funds for another 7 years. Mr. Lindberg's plan gets policyholders their full funds this year. The sole reason policyholders don't have access to their funds now is Causey's intentional delay of the rehab exit of Mr. Lindberg's NC insurers, Lindberg says.
If Causey will simply approve the sale of the insurance companies, then the policyholders will be able to access their funds in full, says Lindberg. The insurance companies have over $1 billion of cash and liquid assets and Mr. Lindberg has shown time and time again with third party valuations that the loans to his various companies are well secured.
Mr. Lindberg invested over $500 million in his insurance companies and has never taken a penny of dividends from them. Mr. Lindberg even put $50 million in the NC insurance companies in December of 2018 AFTER it was clear that Causey was targeting him for political payback.
About Greg Lindberg. Greg Lindberg is a successful entrepreneur, philanthropist and author. To learn more visit https://www.greglindberg.com Over the course of his career, he has acquired and transformed more than 100 companies that were either failing or underperforming, each time finding and empowering great talent—people with the same commitment to hard work, learning, entrepreneurship, and a roll-up-your-sleeves attitude. Today, these companies are worth billions of dollars and employ 7,000 people. His experiences as a leader and related challenges have inspired him to empower people to achieve optimal success through wellness, longevity and leadership. Lindberg also has authored two books: Failing Early & Failing Often: How to Turn Your Adversity into Advantage and 633 Days Inside: Lessons on Life and Leadership, both of which are available on Amazon. In 2020, he founded Interrogating Justice, a non-profit organization whose mission is to bring awareness and help advance solutions that hold corrupt government actors accountable, ensure fairness in sentencing, support reentry, and provide access to justice for all. To learn more visit: https://interrogatingjustice.org/
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