Baldwin bonding company forced into liquidation - al.com

Baldwin bonding company forced into liquidation - al.com: "A Lillian man, twice ordered by the state Insurance Department to stop his construction bond business, is being forced by a bankruptcy judge to sell assets to pay what could be millions of dollars in claims to nearly 100 creditors across the country.

Morris C. Sears, 63, who has run ABBA Bonding from his Lillian home since 2001, initially sought Chapter 11 bankruptcy protection to fight what he argues are illegitimate claims.

'It's not that I can't pay; I won't pay,' Sears said before his June 30 bankruptcy hearing. 'Any legitimate claim that has ever been presented to us has been paid.'"