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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.
Legal and Estate Notices:
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Legion Insurance Company
An Order to Show Cause seeking, among other things, approval of a final report and closure of this ancillary proceeding has been signed by the Supreme Court, New York County, with a return date of November 7, 2018.
--[Read OTSC and Supporting Papers]
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Health Republic Insurance of New York, Corp.
A status conference has been scheduled for November 29, 2018 at 10:00 a.m. in the Supreme Court of the State of New York, Part 35, 60 Centre Street, Room 438.
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Guarantee Insurance Company
An Order to Show Cause seeking, among other things, approval of a final report and closure of this ancillary proceeding has been signed by the Supreme Court, New York County with a return date of October 18, 2018.
--[Read OTSC]
--[Read Supporting Papers]
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American Medical and Life Insurance Company
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 1, 2018 (adjourned from October 30, 2018).
--[Read Notice]
--[Read OTSC]
--[Supporting Papers]
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Cuatro LLC
Cuatro LLC 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, Queens County, filed on August 6, 2018.
--[Read Order]
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Drivers Insurance Company
An Order to Show Cause seeking, among other things, approval of the Liquidator’s report and closure of this liquidation proceeding, has been signed by the Supreme Court, New York County, with a return date of November 14, 2018.
--[Read OTSC]
--[Read Supporting Papers]
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Castlepoint National Insurance Company
An Order to Show Cause seeking approval of an adjudication procedure for Security Fund eligible claims and appointment of a referee was submitted to Court, and the return date on the motion is August 28, 2018.
--[Read OTSC]
--[Read Supporting Papers]
- Frontier Insurance Company
An Order to Show Cause seeking, among other things, authorization to sell Frontier’s real property located at 195 Lake Louise Marie Road, Rock Hill, New York, consisting of approximately 15.23 acres of land that includes the Frontier headquarters building, improvements and the portion of a parking lot located thereon to The Center for Discovery has been signed by the Supreme Court, Albany County with a return date of September 7, 2018.
--[Read Order to Show Cause]
--[Read Verified Petition]
--[Read Exhibits A-N to the Verified Petition]
--[Read Exhibits O-S to the Verified Petition]
- More...
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