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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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Freelancers Insurance Company, Inc.
An Order to Show Cause seeking, among other things, an order of liquidation against Freelancers Insurance Company, Inc. was signed by the Supreme Court, Kings County with a return date of December 22, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Park Insurance Company
Park Insurance Company was placed into liquidation by an order of the Supreme Court of the State of New York signed on September 22, 2020, which had been stayed and became effective on November 30, 2021.
--[Read Liquidation Order]
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Fresenius Health Plan of New York, Inc.
Fresenius Health Plan of New York, Inc. 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 signed on November 24, 2021.
--[Read Liquidation Order]
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American Medical and Life Insurance Company
An Order allowing the claim filed by the National Organization of Life and Health Insurance Guaranty Associations was
entered by the New York County Clerk on November 16, 2021.
--[Read Order]
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Fresenius Health Plan of New York, Inc.
An Order to Show Cause seeking, among other things, an order of liquidation against Fresenius Health Plan of New York, Inc. was signed by the Supreme Court, New York County with a return date of November 24, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Health Republic Insurance of New York, Corp.
An Order to Show Cause for an order (i) approving adjudication procedures for the determination of claims against Health Republic other than claims for administrative expenses under
Class One as set forth in Insurance Law Section 7434(a)(1)(i) and claims under policies under Class Two as set forth in Insurance Law Section 7434(a)(1)(ii), and (ii) appointing the
Honorable Anthony J. Carpinello as Referee to hear and report on objections to the Liquidator’s determination of Non-Class Two Claims was signed by the Supreme Court, New York County,
with a return date of December 10, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Atlantis Health Plan, Inc.
An Order approving the Liquidator’s report on the status of the Atlantis liquidation proceeding was filed by the County Clerk’s Office on October 19, 2021.
--[Read Order]
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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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