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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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Fresenius Health Plan of New York, Inc.
An order closing the Fresenius Health Plan of New York, Inc. liquidation proceeding was filed with the
County Clerk’s office on October 25, 2022.
--[Read Order]
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Health Republic Insurance of New York, Corp.
The Liquidator of Health Republic Insurance of New York, Corp. (“Health Republic”) has posted a closing plan and timeline for making distributions and closing the Health Republic estate. All dates in the Closing Plan are projections and subject to change.
--[Read Notice]
--[Read Closing Plan]
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One Title 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, for submission only, of December 5, 2022.
--[Read OTSC]
--[Read Supporting Papers]
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Health Republic Insurance of New York, Corp.
On October 12, 2022, the Court entered a stipulation resolving a claim objection and so ordered the confirmation and approval of the referee’s report regarding the interest claim.
--[Read Order]
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Fresenius Health Plan of New York, Inc.
An Order to Show Cause seeking, among other things, approval of the Liquidator’s first and final report and closure of the Fresenius Health Plan of New York, Inc. liquidation proceeding, was signed by the Supreme Court, New York County with a return date of October 19, 2022.
--[Read OTSC]
--[Read Supporting Papers]
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One Title National Guaranty Company, Inc.
An Order to Show Cause granting the Liquidator’s application to allow certain claims was entered by the Court on September 16, 2022.
--[Read Order]
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One Title National Guaranty Company, Inc.
An Order to Show Cause seeking allowance of certain claims in the OneTitle proceeding was entered by the Court on August 12, 2022, and the return date on the motion is September 16, 2022, on submission only.
--[Read Order to Show Cause]
--[Supporting Papers]
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Health Republic Insurance of New York, Corp.
A letter updating status of the proceeding was filed with the Supreme Court of the State of New York on July 29, 2022.
--[Read Letter]
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One Title National Guaranty Company, Inc.
An Order approving the Liquidator’s recommendation to disallow certain claims in the OneTitle proceeding was entered by the Court on July 15, 2022.
--[Read Order]
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One Title National Guaranty Company, Inc.
An Order to Show Cause seeking disallowance of certain claims in the OneTitle proceeding was entered by the Court on May 23,2022, and the return date on the motion is June 27, 2022, on submission only.
--[Read Order to Show Cause]
--[Read Supporting Papers]
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Highlands Insurance Company
An Order of Ancillary Receivership was filed with the New York County Clerk’s Office on May 11, 2022.
--[Read Order]
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Park Insurance Company
An order was entered on April 26, 2022, by Supreme Court, New York County, establishing March 31, 2023, as the date by which all claims against Park Insurance Company (other than administrative claims or claims of a State guaranty fund) and all evidence of such claims must be submitted to the Liquidator.
--[Read Order]
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