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Remmels lose appeal in insurance firm case.

The Remmel family, which formerly owned Rebsamen Insurance Co. of Little Rock, lost its appeal to the Arkansas Supreme Court over whether its dispute with Regions Financial Corp. and Rebsamen's former CEO should have gone to an arbitrator.

In 2003, Ruth Rebsamen Remmel and her adult children, Mary Remmel Wohleb and Dr. Raymond Remmel, sued Regions and Allen J. McDowell after the family said it was deceived into selling the 75-year-old insurance company in 2001 for $40.2 million. The family also sued its financial adviser, Phil Herrington, but that case was settled out of court in 2006.

The case against Regions and McDowell was sent to an arbitrator, who ruled against the Remmels. The arbitrator also ordered the Remmels to pay nearly $400,000 for the expenses that occurred in defending the case.

The Remmels then appealed that ruling on the grounds that Pulaski County Circuit Judge Jay Moody shouldn't have sent the case to the American Arbitration Association in the first place.
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Title Annotation:LEGAL
Author:Friedman, Mark
Publication:Arkansas Business
Date:Apr 16, 2007
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