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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 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...

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...

NEW YORK - (Mealey's) Twinkie maker Hostess Brands Inc., which had been proceeding with a bankruptcy reorganization plan, moved in the U.S. Bankruptcy Court for the Southern District of New York on Nov. 16 for authorization to convert its proceeding...

By Douglas Y. Christian, Damian L. DiNicola, and Benjamin M. Schmidt, Attorneys, Ballard Spahr LLP The Commonwealth Court of Pennsylvania has rejected the efforts of the Pennsylvania Insurance Department (PID) to liquidate two long-term care insurance...

By Timothy P. Law, Partner, Reed Smith LLP Insurance company insolvencies cause disruption to businesses and create a risk of serious financial loss. In many instances, however, policyholders can make a full recovery or mitigate their losses by considering...

By Timothy P. Law, Partner, Reed Smith LLP Insurance company insolvencies cause disruption to businesses and create a risk of serious financial loss. In many instances, however, policyholders can make a full recovery or mitigate their losses by...

By Douglas Y. Christian, Damian L. DiNicola, and Benjamin M. Schmidt, Attorneys, Ballard Spahr LLP The Commonwealth Court of Pennsylvania has rejected the efforts of the Pennsylvania Insurance Department (PID) to liquidate two long-term care...

By Louis M. Solomon In re: Fairfield Sentry Limited, et al., 10 Civ. 7311 (S.D.N.Y. Sept. 2011) [ enhanced version available to lexis.com subscribers ], is an appeal to the District Court of a ruling by the Bankruptcy Court that recognized the liquidation...

Vila v. BVWebTies LLC, C.A. No. 4308-VCS (Del. Ch. Oct. 1, 2010), read opinion here . Brief Overview This opinion adds needed depth to the case law on Section 18-802 of the Delaware LLC Act which allows a member of an LLC to seek dissolution when...

Vila v. BVWebTies LLC, C.A. No. 4308-VCS (Del. Ch. Oct. 1, 2010), read opinion here . Brief Overview This opinion adds needed depth to the case law on Section 18-802 of the Delaware LLC Act which allows a member of an LLC to seek dissolution...

By Jeremiah S. Buckley and Liana R. Prieto, Attorneys, BuckleySandler LLP In a rare challenge to the FDIC, a bank sued to prevent enforcement of a temporary cease-and-desist order seeking to halt its voluntary liquidation. This commentary by Jeremiah...

Trenton, NJ (CompNewsNetwork) - The New Jersey Department of Labor and Workforce Development was informed that Imperial Casualty and Indemnity is insolvent and has been placed into liquidation by the Oklahoma Department of Insurance. Imperial Casualty...