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BILL LOCKYER
Attorney General of the State of California
RANDALL P. BORCHERDING
Supervising Deputy Attorney General
JULIAN O. STANDEN
Deputy Attorney General
State Bar No. 51637
455 Golden Gate Avenue, Suite 11000
San Francisco, CA 94102-7004
Telephone: (415) 703-5535
Facsimile: (415) 703-5480
Attorneys for Applicant
Insurance Commissioner of the State of California
SUPERIOR COURT OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF SAN FRANCISCO
UNLIMITED JURISDICTION
INSURANCE COMMISSIONER OF THE
STATE OF CALIFORNIA,
Applicant,
v.
PREMIER ALLIANCE INSURANCE
COMPANY,
Respondent.
Case No. 958449
ORDER (1) SETTLING AND
APPROVING FINAL REPORT
AND ACCOUNT OF
LIQUIDATOR; (2) APPROVING
FINAL DISTRIBUTION OF
ASSETS; (3) TERMINATING
PROCEEDINGS; AND
(4) DISCHARGING LIQUIDATOR
Date: November 30, 2005
Time: 9:30 a.m.
Dept: Room 301
The application of the Insurance Commissioner as Conservator and Liquidator of respondent Premier Alliance Insurance Company ("Premier Alliance") for an Order (1) settling and approving final report and account of liquidator; (2) approving final distribution of assets; (3) terminating proceedings; and (4) discharging liquidator duly came on regularly for hearing on November 30, 2005, in Room 301 of this Court. The Court, having read and considered the Insurance Commissioner's Final Report and Account, his verified application for an order, the points and authorities and evidence submitted in support thereof; and good cause appearing;
IT IS HEREBY ORDERED that:
The Final Report and Account of the Insurance Commissioner as Conservator and Liquidator of Premier Alliance for the period February 18, 1994 through August 31, 2005, is settled and approved;
The Insurance Commissioner is authorized to distribute over $42 million to the approved claimants indicated in the Application, as determined by the dollar amount of the approved claims, less related administrative expenses;
The Insurance Commissioner is authorized to maintain all records of Premier Alliance for three years from the date of this order and thereafter the Insurance Commissioner is authorized to destroy all records of Premier Alliance, except for those records necessary for examination by the Department of Finance or other auditor of the Commissioner's books and records, pursuant to Insurance Code §1061.
The estate of Premier Alliance is closed and the Insurance Commissioner shall be discharged as Conservator and Liquidator upon the filing of a Declaration of Compliance that reflects that the Insurance Commissioner has complied with the terms of this Court's order to make the final distribution and close the estate;
Upon being discharged as Conservator and Liquidator as described in paragraph four above, the Insurance Commissioner shall not have any liability, acting in any capacity, to any person arising, occurring or relating to his activities prior to or during his conservation and/or liquidation of Premier Alliance;
The Insurance Commissioner is authorized to file a request that this proceeding be dismissed;
The Insurance Commissioner is authorized to take any action necessary to accomplish the purpose of this Order.