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Court Orders:

Restructuring Agreement:
• Summary
• Revised as of 3/6/2012
• Blackline with Changes
• Expert Report
• Draft
• Exhibit 6.1.1
• Exhibit 6.1.2

Order to Show Cause and
Supporting Motion Papers:
• Order to Show Cause
• Memorandum of Law
• Affidavit of Ivy Chang
  – Exhibit A
  – Exhibit B
  – Exhibit C
  – Exhibit D
• Verified Petition
  – Exhibit A
  – Exhibit B
  – Exhibit C
  – Exhibit D
  – Exhibit E
• Notice of Petition
• Schedule 1.15
• Affidavit of J. L. Bing
• Reply Memo to Objections

Order of Liquidation and
Approval of Agreement:
• Order
• Memorandum Decision
• Notice (Liquidation Date)
• Notice (Proposed Date)

Facilitation Plan:
• Summary Memo
• Plan

• Order (Rehabilitation)


Contact Person(s):

Michael Ferreira

Phone  (212) 341-6589

Email   mferreira@nylb.org

Select another Estate:



Executive Life Insurance Company of New York

Estate Profile:
Date of Rehabilitation: 04/23/1991
Date of Liquidation: 08/08/2013
Termination of Policies: None
Proof of Claim Filing Deadline: 12/08/2013
Dividend Distribution: None
Bar Date: None


Historical Information:

On April 19, 2012, the Supreme Court of the State of New York, Nassau County (“Receivership Court”) entered an Order finding Executive Life Insurance Company of New York (“ELNY”) to be insolvent and approved a Restructuring Agreement in connection with the liquidation and restructuring of ELNY.  By Order of the Receivership Court, the Superintendent of Financial Services of the State of New York, as Receiver, was directed to liquidate ELNY’s business and affairs in accordance with New York Insurance Law and in substantially the manner provided in the Restructuring Agreement.  The Liquidation Date of ELNY was the closing date of the Restructuring Agreement, which occurred on August 8, 2013.

Substantially all of ELNY’s remaining assets have been transferred to Guaranty Association Benefits Company (“GABC”), a newly created not-for-profit captive insurance company owned by the Participating Guaranty Associations that is referred to as “NEWCO” in the Restructuring Agreement.  Since the Liquidation Date, GABC has been responsible for managing such assets and making payments to contract owners, payees and beneficiaries.

Additional Information:

For further information about GABC or benefit payments from GABC to contract owners, payees and beneficiaries following the Liquidation Date, you may contact them directly at:

Guaranty Association Benefits Company
PO Box 1154
Jacksonville, IL 62651-1154

Phone: 800-421-8850
Fax: 803-333-2417

www.gabenefitsco.com