Until creditors "holding a higher priority" are paid in full as Texans Insurance Group reorganizes under bankruptcy cover, it remains to be seen if the former CUSO's CEO will see any part of a $21 million order.
Texans Credit Union confirmed that is has filed an appeal of the $21 million "estimation order" and stood by a previous assertion that the money is not actually owed.
"The $21 million estimation determination is not a judgment. It is an estimation of the value of the unsecured claim of Kevin Curley for purposes of distribution in the TIG bankruptcy," Texans CU wrote in a statement. "The court's opinion on the estimation does not order Texans Insurance Group to pay Curley this amount of money."
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