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Notwithstanding Michigan’s 2012 Nonrecourse Mortgage Loan Act (NMLA), which provides that solvency covenants in nonrecourse loans unenforceable, in Borman, LLC v. 18718 Borman, LLC , a third-party purchaser of a foreclosed property sought a deficiency...

By Douglas Hertlein Abstract * * * Chapter 99 analyzes all forms of insurer receiverships. When a commissioner’s regulatory powers, including the power to issue supervision orders, prove to be insufficient to address financial or other...

By Bruce Baty and Jodi Adolf Abstract * * * Chapter 102 discusses the consequences of an insurer insolvency for the policyholders, agents, excess insurers and reinsurers of the insolvent insurer. The chapter begins in Section 102.01 with...

Abstract *** Having considered the bankruptcy process generally in Chapter 107 and undertaken an inquiry into how insurance functions as an asset of the bankruptcy estate in Chapter 108 above, this chapter turns to the impact of bankruptcy on insurance...

LexisNexis is publishing a new volume of our authoritative treatise on the nation’s insurance law, the New Appleman on Insurance Library Edition . It is entitled “Insolvency and Bankruptcy.” Comprehensive new Volume 9 is solely devoted...

By Kristen J. Brown Abstract * * * This chapter examines the powers and remedial options afforded to state insurance commissioners for their regulation of insurance company insolvency. State laws arm insurance commissioners with broad intervention...

By Susan N. K. Gummow Abstract *** Having reviewed the basic elements and concepts of bankruptcy law in Chapter 107 above, Chapter 108 focuses on how insurance functions as an asset of the debtor’s bankruptcy estate. Section 108.01...

By Susan N. K. Gummow and Eric J. Shukis Abstract *** The filing of bankruptcy impacts the debtor-insured, its insurers, and parties asserting claims that may implicate the debtor’s insurance policies. Chapter 107 introduces some...

By Patrick H. Cantilo, Mark F. Bennett, Arati Bhattacharya Abstract *** This chapter addresses the rehabilitation of insurers. In general, upon the advent of receivership proceedings (for purposes of this chapter, any proceeding through which...

By Richard G. Liskov and John J. Sarchio Abstract * * * This chapter discusses the regulation of alien multi-national insurers—insurers domiciled outside the United States but operating in U.S. insurance markets. The chapter begins with...

By Patrick H. Cantilo, Mark F. Bennett, and Arati Bhattacharya Abstract *** In this chapter, five insurance insolvencies are discussed in detail to illustrate a number of the issues that are presented in the management of troubled insurers...

By Katherine Billingham Abstract Liquidation of an insurance company is the equivalent of a Chapter 7 bankruptcy and is the remedy of last resort for an insurer in financial difficulty. This chapter examines the timing, purpose and grounds for liquidation...

By James M. Lawniczak Abstract *** Chapter 110 covers insurance issues that often arise in federal bankruptcy cases. Due to their nature, certain types of insurance policies are implicated more often in bankruptcy proceedings than others....

Budget & Taxes NC AGENCY LIFELINE FOR LOCAL GOVERNMENTS: North Carolina has the fourth highest state unemployment rate in the nation, according to the Bureau of Labor Statistics' April rankings. But unlike other states with job markets that...