More than a month after a bankruptcy court determined that the former president/CEO of Texans CUSO Insurance Group was entitled to $21 million in a wrongful termination case, it appears the fight to collect could linger as Texans Credit Union gears up to appeal.
"We are delighted with the court's ruling. It is gratifying that the judge confirmed our legal positions in numerous lawsuits and arbitrations against Texans," Curley wrote in a statement to Credit Union Times.
On March 2, the U.S. Bankruptcy Court for the Northern District of Texas said Curley has a claim of $21 million, which includes $347,699 for back pay, benefits and prejudgment interest, $441,000 for attorneys' fees and employment arbitration and $156,909 for post-arbitration fees. Curley's case goes back to January 2007 when Texans CU bought the Curley Insurance Group LLC and six other companies from him for $19 million. Curley was also entitled to a $21 million contingent right to an earn-out paid by Texans Insurance.
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