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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OneTitle National Guaranty Company, Inc.
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 of June 22, 2023.
--[Read OTSC]
--[Read Supporting Papers]
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Alliance National 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 June 14, 2023.
--[Read Order to Show Cause]
--[Read Supporting Papers]
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United Property & Casualty Insurance Company
An Order of Ancillary Receivership was entered by the New York County Clerk’s office on May 9, 2023.
--[Read Order]
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Bedivere Insurance Company
An order approving a claims adjudication procedure and appointing a referee was entered by the Court on April 28, 2023.
--[Read Order]
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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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