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Mission Insurance Companies
Estate Trust Officer: Scott Pearce
Email Address: PearceS@caclo.org
Telephone Number: (415) 676-5013
Conservation Date: 10/31/1985
Liquidation Date: 02/24/1987
POC Final Filing Date: 09/12/1987
Affiliate Companies:
Enterprise Insurance Company
Holland America Insurance Co.
Mission National Insurance Co.
Mission Reinsurance Corp.
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Our Mission

On behalf of the Insurance Commissioner, the CLO acts to rehabilitate and/or liquidate, under Court supervision, troubled insurance enterprises. The CLO operates as a fiduciary for the benefit of claimants, handling the property of the failed enterprises in a prudent, cost-effective, fair, timely, and expeditious manner.
 



CONSERVATION &

LIQUIDATION OFFICE

 


P.O. Box 26894
San Francisco, California
94126-0894
Tel: 415.676.5000
Fax: 415.676.5002
www.caclo.org

 


Dear Claimant:

This office received a mailing or other notice from you of an alleged claim against Mission Insurance Company, Mission National Insurance Company, or Enterprise Insurance Company.

This letter advises you that on January 24, 2006, the Superior Court for the County of Los Angeles, State of California, entered its Closing Order for Mission Insurance Company Trust and Mission National Insurance Company Trust. On September 24, 2004, the Court issued its closing order for Enterprise Insurance Company Trust. Copies of these orders are available from the Conservation and Liquidation Office website, www.caclo.org, or from the court files in the Los Angeles Superior Court, Case Number C 572 724.

Pursuant to these orders, and other orders entered in the proceedings, no further claims for distributions pursuant to the priority statute set forth in California Insurance Code Section 1033 may be submitted. Accordingly, your mailing of materials regarding claims should not result in distributions to you from the assets of the trusts, as the distributions from the trusts have already been fixed by court order.

One source of potential recovery for claimants with "latent deficiency claims" still exists for a finite time period. This is through the Rehabilitation Plan Implementation Agreement approved by the Court. Pursuant to this plan, certain holders of "latent deficiency claims" as defined in that plan may be entitled to share in a distribution of a number of Covanta Holding Corporation shares. I direct you to the CLO website, www.caclo.org if you wish to download a copy of the plan. This site also contains substantial information about the orders entered by the court handling the case, including the injunction and stay against further actions against the trusts.

If you wish to submit a claim under the Rehabilitation Plan Implementation Agreement, I advise you to immediately contact C. Guerry Collins, Esq. at Lord, Bissell & Brook. His telephone number is (213) 485-1500. His further contact information may be obtained from www.lordbissell.com. The valuation of Latent Deficiency Claims is expected to occur during 2006 and early 2007, so that any contact should be initiated soon.

In light of this situation, we ask that you direct any documents to Covanta Holding Corporation's counsel Mr. Collins, and that you no longer send those documents to the Mission Insurance Company Trust, the Mission National Insurance Company Trust and the Enterprise Insurance Company Trust. Please be advised that an injunction issued pursuant to California Insurance Code Section 1020 bars the initiation of lawsuits outside the liquidation case.

I hope this addresses your concerns expressed in your letter(s).

Sincerely,

John Garamendi, Insurance Commissioner of the State of California, solely in his capacity as the Liquidator of Mission Insurance Company Trust and Mission National Insurance Company Trust.

By:
Mohsen Sultan
Estate Trust Officer