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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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Arrowood Indemnity Company
An Order to Show Cause seeking approval of a claims adjudication procedure and appointment of a referee was signed by the Court and entered by the County Clerk on October 9, 2024. The return date on the motion, which will be taken upon submission, is October 30, 2024.
--[Read OTSC]
--[Read Supporting Papers]
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Arrowood Indemnity Company
An order placing Arrowood Indemnity Company into ancillary receivership was entered by the New York County Clerk
on September 30, 2024
--[Read Order]
- Atlantis Health Plan, Inc.
An Order to Show Cause seeking, among other things, approval of the Liquidator’s report on the status of the Atlantis liquidation
proceeding, has been submitted to the Court with a return date of October 11, 2024, via virtual video conference.
--[Read OTSC]
--[Read Supporting Papers]
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Columbian Mutual Life Insurance Company
An order placing Columbian Mutual Life Insurance Company into rehabilitation was entered by the Broome County Clerk on
August 13, 2024.
--[Read Rehabilitation Order]
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Columbian Mutual Life Insurance Company
An Order to Show Cause seeking, among other things, an order of rehabilitation against Columbian Mutual Life Insurance Company
was signed by the Supreme Court, Broome County, with a return date of August 13, 2024.
--[Read OTSC]
--[Read Supporting Papers]
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Columbian Mutual Life Insurance Company
On July 10, 2024, the Superintendent of Financial Services of the State of New York filed a petition with the New York State Supreme Court, Broome County, to place Columbian Mutual Life Insurance Company into rehabilitation. Additional information will be posted to this page as it comes available.
--[Read Notice to Policyholders]
--[Read Notice to Employees]
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Arrowood Indemnity Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against Arrowood Indemnity Company was signed by the Supreme Court, New York County with an original submission date of March 28, 2024. The Court has now scheduled oral argument for June 4, 2024 at 2:30 p.m. via Microsoft Teams.
--[Read OTSC]
--[Read Supporting Papers]
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Cuatro LLC
An Order closing this liquidation proceeding was filed with the Supreme Court, New York County, on March 15, 2024.
--[Read Order]
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Frontier Insurance Company
An Order closing this liquidation proceeding was signed and entered by the Supreme Court, Albany County, on March 7, 2024.
--[Read Order]
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Arrowood Indemnity Company
An Order to Show Cause seeking, among other things, an order of ancillary receivership against Arrowood Indemnity Company was signed by the Supreme Court, New York County, with a return date, on submission only, of March 28, 2024.
--[Read OTSC]
--[Read Supporting Papers]
- More...
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