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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One Title National Guarantee 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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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 April 18, 2022.
--[Read Letter]
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Health Republic Insurance of New York, Corp.
An Order approving a Release Agreement between the federal government and the Liquidator was entered by the Supreme Court on April 25, 2022.
--[Read Order]
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Highlands Insurance Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against Highlands Insurance Company was signed by the Supreme Court, New York County with a return date of April 29, 2022.
--[Read Order]
--[Read Supporting Papers]
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Maidstone Insurance Company
An order approving a claims adjudication procedure and an amended order appointing a referee were entered by the Court on
March 16, 2022, and March 22, 2022, respectively.
--[Read Order approving Adjudication Procedures]
--[Read Amended Order appointing Referee]
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