Judge OKs Golden Eagle Rehabilitation Plan

San Francisco County Superior Court Judge William Cahill approved a rehabilitation plan for Golden Eagle Insurance Co. of San Diego, including its sale to Liberty Mutual of Boston. The plan was unsuccessfully opposed by American International Group, the losing bidder in May in a court-supervised auction of Golden Eagle, which was seized by the state Insurance Department earlier this year after the company ran afoul of reserve and bookkeeping guidelines. The purchase of Golden Eagle will make Liberty Mutual the state’s second-largest underwriter of workers’ compensation insurance.