Court Opinion

ID: 9794299
Source: CourtListenerOpinion
Date Created: 2023-08-31 03:03:28.817336+00
Date Added: 2024-06-11T08:14:21.852799
License: Public Domain

Mr. Justice Knauss
dissenting:
I respectfully dissent. It is my considered opinion that the instant case is analogous to Western Auto Supply Co. v. Chalcraft, 148 N.E. (2d) 592 (Ill. App. Ct. 1958). It there appears:

“There is no impropriety in temporarily enjoining a defendant from collecting or receiving monies which equitably belong to plaintiff, and from using any of the funds for his own use.

“Since it is charged that defendant is selling property belonging to plaintiff, * * * it appears the status quo must be preserved by injunction, else the situation may proceed to the point where no remedy would avail anything.
“When this situation exists, the trial court is not required to be minutely critical of the complaint, and this court will not readily interfere with the discretion allowed in such matters. It is not required that plaintiff make out a case that is certain to prevail on final hearing, it is enough if there is shown a fair question as to the existence of the rights claimed, so that the court is satisfied their present state should be preserved until final hearing and disposition." (Emphasis supplied.)
See, also, Grossman v. Grossman, 304 Ill. App. 507, 26 N.E. (2d) 678; Holloway v. Evans, 55 N.M. 601, 238 P. (2d) 457; Knox v. Wolfe, 73 Cal. App. (2d) 494, 167 P. (2d) 3.
Here, as the majority notes, Green Shield contracted with Colorado Credit Life, both Colorado Insurance corporations, to receive admitted assets, obviously pursuant to the laws of Colorado, which differ from the Texas Statutes governing insurance companies, the requirements of Texas law being less restrictive. American *197Investors is a Texas insurance corporation which has been ordered by the Insurance Commissioner of Texas to convert the assets obtained from Colorado Credit Life into admitted assets under the laws of Texas. If American Investors obeys this order and acquires assets admitted under the law of Texas, but not admitted under the law of Colorado, Green Shield in the event of a judgment in its favor would be precluded from recovering the very thing it contracted for. In order to maintain the status quo an injunction requiring American Investors to retain admitted assets under Colorado law sufficient to comply with the contract is proper.
I am of the opinion that the cause be remanded to the trial court with directions to dissolve the preliminary injunction and to enter an injunction requiring American Investors to maintain intact assets transferred to it by Colorado Credit Life and defined as admitted assets under the laws of Colorado, in the sum of $515,747.46.