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New York Liquidation Bureau
Maria T. Vullo
Superintendent as Receiver
 
Court Orders:


Contact Person(s):

Pansy Satnarine

Phone  (212) 341-6863

Email   psatnarine@nylb.org

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New York Surety Company

Estate Profile:
Date of Rehabilitation: 06/24/1998
Date of Liquidation: 09/21/1998
Termination of Policies: 10/21/1998
Proof of Claim Filing Deadline: 01/21/1999
Dividend Distribution: 06/2012 03.00%
Bar Date: 03/31/2012


Historical Information:

New York Surety Company (NYSCO) was incorporated in the State of New York on June 9, 1983, and commenced writing business on March 6, 1984. The Company voluntarily ceased writing new business on March 20, 1998. An Order of Rehabilitation was entered in the New York State Supreme Court on June 24, 1998. At the time, the Rehabilitation of NYSCO would have required a capital infusion, sufficient to eliminate its insolvency and impairment to surplus which totaled over $3 million. The offices located in Great Neck, New York were closed on August 3, 1998, and all books and records were sent to the Liquidation Bureau. The proposed Order for Liquidation was submitted to the court on September 8, 1998, and entered on September 21, 1998.