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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.
Competitive Bidding Notices:
The NYLB has no competitive bidding notices at this time.
Legal and Estate Notices:
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Group Council Mutual Insurance Company
An Order to Show Cause seeking, among other things, approval of a final report and closure of this liquidation proceeding, was signed by the Supreme Court, New York County with a return date, for submission only, of November 30, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Global Liberty Insurance Company of New York
Global Liberty Insurance Company of New York was placed into liquidation, and the Acting 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 entered on October 13, 2021.
--[Read Liquidation Order]
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Global Liberty Insurance Company of New York
An Order to Show Cause seeking, among other things, an order of liquidation against Global Liberty Insurance Company of New York was signed by the Supreme Court, Suffolk County, with a return date that has been adjourned until October 13, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Atlantis Health Plan, Inc.
An Order to Show Cause seeking, among other things, approval of the Liquidator’s report on the status of the Atlantis liquidation proceeding, has been submitted to the Court with a return date of October 13, 2021, via virtual video conference.
--[Read OTSC]
--[Read Supporting Papers]
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Quality Health Plans of New York, Inc.
An order signed by the Supreme Court, New York County on August 25, 2021, approving an assignment agreement that assigns certain claims and causes of action to Northwell Health, Inc. was entered by the County Clerk’s office on September 13, 2021.
--[Read Order]
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American Medical and Life Insurance Company
An Order to Show Cause seeking allowance of a claim filed by the National Organization of the Life and Health Insurance Guaranty Associations was signed by the Supreme Court, New York County with a return date, for submission only, of September 21, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Quality Health Plans of New York, Inc.
An Order to Show Cause seeking, among other things, an order approving an assignment agreement that assigns certain claims and causes of action to Northwell Health, Inc. was signed by the Supreme Court, New York County with a return date, for submission only, of August 25, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Bedivere Insurance Company
An Order of Ancillary Receivership was filed with the New York County Clerk’s office on June 21, 2021.
--[Read Order]
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