Southland Nat'l Ins. Corp. v. Lindberg

CourtCourt of Appeals of North Carolina
DecidedApril 15, 2026
Docket25-982
StatusPublished
AuthorJudge Julee Flood

This text of Southland Nat'l Ins. Corp. v. Lindberg (Southland Nat'l Ins. Corp. v. Lindberg) is published on Counsel Stack Legal Research, covering Court of Appeals of North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Southland Nat'l Ins. Corp. v. Lindberg, (N.C. Ct. App. 2026).

Opinion

IN THE COURT OF APPEALS OF NORTH CAROLINA

No. COA25-982

Filed 15 April 2026

Wake County, No. 19CVS013093-910

SOUTHLAND NATIONAL INSURANCE CORPORATION in Rehabilitation, BANKERS LIFE INSURANCE COMPANY in Rehabilitation, COLORADO BANKERS LIFE INSURANCE COMPANY, in Rehabilitation, and SOUTHLAND NATIONAL REINSURANCE CORPORATION, in Rehabilitation, Plaintiffs,

v.

GREG E. LINDBERG, ACADEMY ASSOCIATION, INC., EDWARDS MILL ASSET MANAGEMENT, LLC, NEW ENGLAND CAPITAL, LLC, and PRIVATE BANKERS LIFE AND ANNUITY CO., LTD., Defendants.

Appeal by nonparty Robert Alban and nonparty Robert Gaddy from order

entered 31 December 2024 by Judge A. Graham Shirley II in Wake County Superior

Court. Heard in the Court of Appeals 25 March 2026.

Ragsdale Liggett PLLC, by Amie C. Sivon and William W. Pollock, for Appellant Robert Alban.

Michael G. Newell, for Appellant Robert Gaddy.

K&L Gates LLP, by Derek A. Sutton, Margaret R. Westbrook, John R. Gardner, and Gunjan D. Devnani, for appellee.

FLOOD, Judge.

Nonparties Robert Alban and Robert (“Bo”) Gaddy appeal from the trial court’s

interlocutory order directing them to appear and show cause as to why they should

not be held in civil contempt. After careful review, we hold Alban and Gaddy failed to

show demonstrate that the trial court’s interlocutory order is immediately SOUTHLAND NAT’L INS. CORP. V. LINDBERG

Opinion of the Court

appealable. We therefore dismiss both of their appeals on jurisdictional grounds.

I. Factual and Procedural Background

This case has come before this Court numerous times before. See Southland

Nat’l Ins. Corp. v. Lindberg (“Southland I”), 289 N.C. App. 378 (2023), disc. review

improv. allowed, 388 N.C. 411 (2025); Southland Nat’l Ins. Corp. v. Lindberg

(“Southland II”), 924 S.E.2d 577 (N.C. Ct. App. 2025); Southland Nat’l Ins. Corp. v.

Lindberg (“Southland III”), 925 S.E.2d 312 (N.C. Ct. App. 2025). Since our previous

opinions set forth the facts and procedural history of this case, we briefly recount the

history of the case as it relates to this appeal.

Summarily, Southland National Insurance Corporation, Bankers Life

Insurance Company, Colorado Bankers Life Insurance Company, and Southland

National Reinsurance Corporation (collectively, “Plaintiffs”) are insolvent insurers

that were purchased and re-domesticated by Defendant Greg Lindberg in 2014. Prior

to re-domesticating Plaintiffs, Lindberg “caused $1.2 billion that was held for

Plaintiffs’ policyholders to be invested into other non-insurance companies he also

owned or controlled.” Southland I, 289 N.C. App. at 381. Lindberg’s large investments

of Plaintiffs’ money into his affiliated companies caused Plaintiffs to experience

financial distress, so much so that, by 2018, the North Carolina Department of

Insurance (“NCDOI”) worried Plaintiffs would experience a shortfall on their

obligation to pay claims by individual policyholders. Eventually, because of

Lindberg’s improper investments and Plaintiffs’ financial distress, NCDOI placed

-2- SOUTHLAND NAT’L INS. CORP. V. LINDBERG

Plaintiffs under administrative supervision in 2018.

In June 2019, Lindberg and several of his affiliated companies, including

Defendant Global Growth Holdings, Inc. f/k/a Academy Association, Inc., and

Defendant New England Capital, LLC, entered into a series of agreements with

Plaintiffs that established a framework for Defendants to repay Plaintiffs. One of the

agreements into which the parties entered was a Memorandum of Understanding

(the “MOU”), wherein Defendants agreed to transfer certain Lindberg-owned entities

(“Specified Affiliated Companies” or the “SACs”) to an independently owned holding

company (“NHC”) on or before 30 September 2019.

After failing to perform under the MOU, Plaintiffs sued Defendants for breach

of the MOU and fraud1 and sought a Temporary Restraining Order (the “TRO”)

against Defendants. The TRO, which was approved by the trial court, restrained

Defendants and any third party acting in concert with them, from, inter alia,

“[t]ransferring, withdrawing, concealing, defalcating, disposing of, or encumbering

any Defendant[s’] assets” and “[a]cting, or causing any affiliated company to act, in a

manner inconsistent with the best interests of Plaintiffs’ policyholders.” The TRO was

never converted into an injunction; however, with the consent of the parties, the trial

1 The trial court ultimately found Defendants had breached the MOU and had “fraudulently

induced Plaintiffs to sign the MOU by making false representations and warranties”; Defendants appealed. Southland I, 289 N.C. App. at 385. This Court subsequently affirmed the trial court’s finding that Defendants were liable for fraud, but we vacated and remanded the judgment as it pertained to Plaintiffs’ remedies. Id. at 394.

-3- SOUTHLAND NAT’L INS. CORP. V. LINDBERG

court entered a Consent Extension of the TRO on 7 October 2019.

In April 2024, Plaintiffs filed a motion to modify the TRO and to appoint a

receiver for Global Growth, alleging Defendants had violated the terms of the TRO.

After a hearing, the trial court entered an order modifying the TRO (the “Modified

TRO”), which stated the TRO’s restrictions would continue to apply and imposed

additional restrictions. The trial court also entered an order appointing Bill Janvier

(the “Receiver”) to serve as a limited receiver over Defendant Global Growth. The

trial court further amended the Modified TRO on 12 July 2024 (the “Re-Modified

TRO”) after the Receiver reported various transactions in which Defendants violated

the Modified TRO. Six days later, on 16 July 2024, the trial court appointed the

Receiver to serve as a special master to “aid the [c]ourt with ensuring compliance

with the [c]ourt’s orders[.]”

Defendants appealed from the Re-Modified TRO.2 While the appeal was

pending, the Receiver, “as the duly appointed limited receiver[,]” filed a Motion for

Order to Show Cause (the “Show Cause Motion”) on 18 October 2024.

In his motion, the Receiver alleged that Defendants continued to make

transfers that violated the Re-Modified TRO, and that Lindberg, nonparty Alban, and

nonparty Gaddy, who serves as Global Growth’s Chief Operating Officer, were

2 Due to abandoning their argument that the trial court erred by modifying the TRO to extend

beyond the MOU’s specified scope, Defendants’ appeal from the Re-Modified TRO was dismissed. See Southland III, 925 S.E.2d at 324.

-4- SOUTHLAND NAT’L INS. CORP. V. LINDBERG

attempting to transfer trust assets in violation of the TRO. Specifically, the Receiver

alleged “Lindberg and Gaddy are currently attempting to replace the trustee over

certain trusts, Steve Wilson, with a new trustee, Alban, and to transfer certain trust

assets to a newly created trust.” He based this allegation on the following documents:

(1) a letter from Lindberg to Wilson dated 7 October 2024 wherein Lindberg accused

Wilson of gross negligence and requested his “immediate resignation as Trustee of

the Fleet Assist Trust”; (2) a letter dated 10 October 2024 from Gaddy to Wilson

wherein Gaddy formally notified Wilson that, due to the serious allegations of gross

negligence, “the entirety of the assets held in [t]rust are hereby transferred to

ownership of the settlor of the [t]rust, Triton Financial Limited”; (3) a trust

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