An insurer seeking to collect on a $524 million arbitration award against convicted insurance mogul Greg Lindberg urged a North Carolina state appeals court not to take judicial notice of his lawsuit in Florida federal court challenging the award, noting the Fourth Circuit already upheld it.

In its brief Monday opposing Lindberg's motion for judicial notice filed earlier this month, Universal Life Insurance Co. said the "goal of Lindberg's Florida petition is to collaterally attack ULICO's final, unappealable judgment against Lindberg."

"In essence, Lindberg is attempting a re-do of five years of litigation by trying to compel ULICO to re-litigate its claims and his arguments that other courts have long since rejected," ULICO said.

According to court filings, the present appeal relates to Lindberg's challenge of Judge A. Graham Shirley's appointment of a receiver over Lindberg's assets from the bench on Aug. 9, 2024. He then later stated in a written order on Aug. 25, 2024, that "Lindberg has been hiding and secreting his assets to evade (Universal Life's) judgment and his other creditors."

A day later, the Fourth Circuit upheld the $524 million arbitration award ULICO had won against won in June 2020 against PB Life and Annuity Co. Ltd., a company wholly owned by Lindberg. ULICO had accused Lindberg of misappropriating funds allocated to a trust as part of a reinsurance agreement with PBLA.

Lindberg has lodged two appeals over the receivership decision — one challenging the state's court's jurisdiction, which ULICO has called "baseless" — and the present one, which relates to the merits of the receivership itself. In previous appeals court filings, Lindberg has said he's contributed over $335 million in assets to satisfy the arbitration award.

As for the Florida dispute, Lindberg first kicked off that litigation in November 2024, later amending his lawsuit in late September. In that action, Lindberg said the Fourth Circuit specifically affirmed that a guaranty agreement between Lindberg and ULICO meant that Lindberg was personally liable for the arbitration award against PBLA.

However, Lindberg said the appeals court "declined to address any of Lindberg's claims and defenses related to his satisfaction of the preliminary award and his satisfaction of his guaranteed obligations."

"Lindberg now respectfully asks this court to compel [ULICO] to arbitrate these claims and defenses," Lindberg said in the Florida lawsuit.

In his motion for judicial notice earlier this month, the insurance mogul further argued that under North Carolina's receivership statute, "debts subject to bona fide disputes cannot support receivership appointment." And the "existence of pending arbitration to determine credits for over $400 million in cash and assets transferred by Lindberg to ULICO establishes a bona fide dispute," he added.

On Monday, ULICO noted for its part that both the initial and amended lawsuit Lindberg filed "rely entirely on factual allegations and arguments that time did not prevent Lindberg from presenting to Judge Shirley."

"Lindberg's motion also neglects to mention that ULICO filed a detailed response in opposition to Lindberg's petition in that action and instead implies that self-verified factual allegations in his petition are somehow undisputed facts," ULICO said.

The arbitration award dispute comes after a North Carolina federal jury found Lindberg guilty in May 2024 of trying to bribe the state's insurance commissioner by making campaign contributions in exchange for weaker oversight. Lindberg then pled guilty in November 2024 to certain criminal charges for lying to state insurance regulators and defrauding policyholders.

Representatives of the parties did not immediately respond to a request for comment Tuesday.

Lindberg is represented by Michael G. Newell of Global Growth Holdings LLC, a successor entity to Lindberg's company Eli Global LLC.

ULICO is represented by Christopher G. Browning Jr. and R. Kyle Driggers of Troutman Pepper Locke LLP.

The case is Universal Life Insurance Co. v. Lindberg, case number 25-387, in the North Carolina Court of Appeals.