The New York Liquidation Bureau (NYLB) is a unique entity. Receiving no funding from taxpayers, it carries out the responsibilities of the Superintendent of Financial Services as Receiver, in the discharging of the Superintendent's statutorily defined duties to protect the interests of the policyholders and creditors of insurance companies that have been declared impaired or insolvent.
The NYLB has performed this function since 1909, when the New York State Legislature passed the law mandating that the Superintendent assume the separate responsibility of Receiver. In the case of each insurance company in receivership, the Superintendent as Receiver is appointed by the New York State Supreme Court. The Court approves all of the actions of the Superintendent, and by extension those of the NYLB.
Competitive Bidding Notices:
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RFP: Portfolio Management Services
The New York Liquidation Bureau is seeking the services of a qualified investment management firm with insurance expertise to manage its investment portfolio. We invite your company to submit a proposal in accordance with the requirements of the RFP no later than December 2, 2019. Click here,
RFP: Portfolio Management Services, to obtain a copy of the RFP.
Legal and Estate Notices:
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Atlantis Health Plan, Inc.
An Order to Show Cause seeking approval of a claims adjudication procedure and appointment of a referee was submitted to Court, and the return date on the motion is December 20, 2019.
--[Read Notice]
--[Read Order]
--[Read Supporting Papers]
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Cuatro LLC
An Order to Show Cause seeking approval of a claims adjudication procedure and appointment of a referee was submitted to Court, and the return date on the motion is November 19, 2019.
--[Read Notice]
--[Read Order]
--[Read Supporting Papers]
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Eagle Insurance Company
An Order was filed with the New York County Clerk's office on September 25, 2019, closing this ancillary receivership proceeding.
--[Read Order]
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Eagle Insurance Company
An Order to Show Cause seeking, among other things, approval of the Ancillary Receiver’s report and closure of this ancillary proceeding, has been signed by the Supreme Court, New York County with a return date of September 24, 2019.
--[Read OTSC]
--[Read Supporting Papers]
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Northwestern National Insurance Company of Milwaukee, Wisconsin
An Order of Ancillary Receivership was filed with the New York County Clerk's office on August 8, 2019.
--[Read Notice]
--[Read Order]
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Health Republic Insurance of New York, Corp.
A hearing has been scheduled for August 15, 2019 at 10:00 a.m. at the Supreme Court, Part 35, 60 Centre Street, Room 438 for a final review and determination on a proposed settlement and release in respect of certain claims against former directors and officers of the company.
--[Read Order]
--[Read Settlement Agreement and General Release (Redacted)
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Northwestern National Insurance Company of Milwaukee, Wisconsin
An Order to Show Cause seeking, among other things, an order of ancillary receivership against Northwestern National Insurance Company of Milwaukee, Wisconsin was signed by the Supreme Court, New York County with a return date of August 8, 2019.
--[Read OTSC]
--[Read Supporting Papers]
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