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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United Property & Casualty Insurance Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against United Property & Casualty Insurance Company was signed by the Supreme Court,
New York County, with a return date, on submission only, of April 25, 2023.
--[Read OTSC]
--[Read Supporting Papers]
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Bedivere Insurance Company
An Order to Show Cause seeking approval of a claims adjudication procedure and appointment of a referee was signed by the Court, and the return date on the motion is
April 26, 2023.
--[Read Order]
--[Read Supporting Papers]
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Global Liberty Insurance Company of New York
An order approving a claims adjudication procedure and appointing a referee was entered by the Court on February 16, 2023.
--[Read Order]
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Freelancers Insurance Company, Inc.
An order, inter alia, closing the Freelancers Insurance Company, Inc. liquidation proceeding was entered by the County Clerk’s office on January 26, 2023.
--[Read Order]
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Fiduciary Insurance Company of America
An Order to Show Cause seeking, among other things, approval of the Liquidator’s report on the status of the Fiduciary liquidation proceeding has been submitted to the Court with a return date
of March 13, 2023 via Microsoft Teams.
--[Read OTSC]
--[Read Supporting Papers]
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Global Liberty Insurance Company of New York
An Order to Show Cause seeking approval of a claims adjudication procedure and appointment of a referee was signed by the Court, and the return date on the motion is February 15, 2023.
--[Read Notice]
--[Read OTSC]
--[Read Supporting Papers]
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Health Republic Insurance of New York, Corp.
The Health Republic closing page is now live. Pursuant to the Closing Plan, the Liquidator of Health Republic requires all creditors with allowed claims to submit a completed POLICYHOLDER ADDRESS VERIFICATION FORM or a FORM W-9 to ensure that distribution checks are sent to correct mailing addresses and to comply with the Liquidator’s tax reporting obligations. To submit your
forms, please visit www.healthrepublicny.org.
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Freelancers Insurance Company, Inc.
An Order to Show Cause seeking, among other things, approval of the Liquidator’s first and final report and closure of the Freelancers Insurance Company, Inc. liquidation proceeding, was signed by the Supreme Court, Kings County with a return date of January 24, 2023.
--[Read OTSC]
--[Read Supporting Papers]
- More...
