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The NYLB's office is operating on a remote basis. You may continue to communicate with us by email.
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.
Legal and Estate Notices:
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Health Republic Insurance of New York, Corp.
Letter Update to the Supervising Court, dated May 4, 2021.
--[Read Letter]
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Health Republic Insurance of New York, Corp.
On April 9, 2021, the Supreme Court, New York County signed an Order: (a) approving a Stipulation For Entry of Final Judgment resolving a lawsuit the Liquidator brought in the United States Court of Federal Claims; (b) allowing, as a Class Eight claim in the liquidation proceeding, the claim of the United States for a Solvency Loan; and (c) permitting the submission of claims to the Liquidator, other than Policy Claims as defined in the liquidation order, no later than August 9, 2021, which is a period of four months from the date of entry of the Order.
--[Read Order]
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Professional Liability Insurance Company of America
An Order was signed by the Supreme Court, New York County on February 26, 2021, terminating the PLICA liquidation proceeding.
--[Read Order]
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Cuatro LLC
An order approving a claims adjudication procedure was entered by the Court on March 4, 2021.
--[Read Order]
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Health Republic Insurance of New York, Corp.
An Order to Show Cause for an order (a) approving a Stipulation For Entry of Final Judgment resolving a lawsuit the Liquidator brought in the United States Court of Federal Claims; (b) allowing, as a Class Eight claim in the liquidation proceeding, the claim of the United States for a Solvency Loan; and (c) permitting the submission of claims to the Liquidator, other than Policy Claims as defined in the liquidation order, for a period of four months from the date of entry of an order granting the application, was signed by the Supreme Court and is returnable, on submission, on March 8, 2021.
--[Read OTSC]
--[Read Supporting Papers]
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Professional Liability Insurance Company of America
An Order to Show Cause seeking, among other things, approval of a final report and closure of this liquidation proceeding, has been submitted to the Court with a return date of February 2, 2021 via virtual video conference.
--[Read Order to Show Cause]
--[Read Supporting Papers]
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American Country Insurance Company
An Order of Ancillary Receivership was filed with the New York County Clerk's office on December 16, 2020.
--[Read Order]
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American Service Insurance Company
An Order of Ancillary Receivership was filed with the New York County Clerk's office on December 2, 2020.
--[Read Order]
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American Country Insurance Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against American Country Insurance Company was signed by the Supreme Court, New York County with a return date of December 16, 2020.
--[Read OTSC]
--[Read Supporting Papers]
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American Service Insurance Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against American Service Insurance Company was signed by the Supreme Court, New York County with a return date of December 2, 2020.
--[Read OTSC]
--[Read Supporting Papers]
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OneTitle National Guaranty Company, Inc.
OneTitle National Guaranty Company, Inc. was placed into liquidation, and the 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 October 6, 2020.
--[Read Order]
- More...
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