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FIRST OGLETHORPE CO. CONTINUES TO DO BUSINESS IN GEORGIA AND CONTINUES TO RESIST COMMISSIONER'S APPEAL TO COURT OF APPEALS

 ATLANTA, Sept. 9 /PRNewswire/ -- First Oglethorpe Company, and Atlanta-based administrator of self-insured workers' compensation funds, will continue to resist the Insurance Commissioner's appeal to the Court of Appeals of the state of Georgia from Judge Josephine Holmes Cook's July 22 order authorizing the issuance of Certificates of Authority for two funds -- The Georgia Manufacturers Workers' Compensation Fund and The Georgia Wholesalers and Retailers Workers' Compensation Fund.
 Harry Bassler, attorney for First Oglethorpe Company, said Fulton County Superior Court Judge Cook issued a Stay and Supersedeas on Sept. 8, allowing the insurance commissioner to appeal the court's July 22 order without either party being able to compel the enforcement of the order. The stay does not set aside Judge Cook's order of July 22, holding that Insurance Commissioner Tim Ryles' denial of certificates of authority to the two funds was "arbitrary and capricious and without substantial legal justification."
 In addition, Bassler pointed out that First Oglethorpe Company has not been blocked from doing business in Georgia. The court rulings apply only to the two funds mentioned above and not to any of its other business dealings.
 -0- 9/9/93
 /CONTACT: Harry Bassler, attorney, 404-956-1813, or Judy T. Harmon, media representative, 404-728-0219, both for First Oglethorpe Co./


CO: First Oglethorpe Company ST: Georgia IN: FIN SU:

BR-BN -- AT010 -- 0297 09/09/93 11:55 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
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