Does Insurance Liquidation Statute Authorize Interest Payments to Creditors Before Recovery by Shareholders?

Mary Jo Hudson, Superintendent of Insurance, State of Ohio, acting in her capacity as Liquidator of The Oil & Gas Insurance Company v. Petrosurance, Incorporated, Mark G. Hardy, Case no. 2009-1816

10th District Court of Appeals (Franklin County)

ISSUE: Under the state law that regulates the liquidation of assets of an insolvent insurance company, are general creditors who have already recovered the principal amounts they were owed by the insolvent company entitled to also recover interest on those amounts before the shareholders of the insurance company may make any recovery from the proceeds of the liquidation?