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:
The NYLB has no competitive bidding notices at this time.
Legal and Estate Notices:
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Maidstone Insurance Company
Maidstone Insurance Company was placed into liquidation, and the Superintendent of Financial Services of the State of New York was appointed liquidator, by an order of the Supreme Court of the State of New York which was signed on February 13, 2020.
--[Read Order]
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Northwestern National Insurance Company of Milwaukee, Wisconsin
An order closing and disposing of the ancillary proceeding was filed by the Court on January 27, 2020.
--[Read Order]
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Maidstone Insurance Company
An Order to Show Cause seeking, among other things, an order of liquidation against Maidstone Insurance Company was signed by the Supreme Court, Nassau County with a return date of February 13, 2020.
--[Read OTSC]
--[Read Supporting Papers]
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Atlantis Health Plan, Inc.
An Order approving a claims adjudication procedure was filed by the Court on December 23, 2019.
--[Read Order]
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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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