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BILL LOCKYER, Attorney General
of the State of California
W. DEAN FREEMAN
Lead Supervising Deputy Attorney General
MARK P. RICHELSON (SBN) 581121
Supervising Deputy Attorney General
SCOTT T. FLEMING (SBN) 170507
Deputy Attorney General
LISA CHAO (SBN) 198536
Deputy Attorney General
300 South Spring Street, Room 1702
Los Angeles, California 90013
Telephone: (213) 897-2479
Fax: (213) 897-5775
Attorneys for Applicant Insurance
Commissioner of the State of California
SUPERIOR COURT OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF ORANGE, CENTRAL JUSTICE CENTER
INSURANCE COMMISSIONER OF THE
STATE OF CALIFORNIA,
Applicant,
v.
WESTERN GROWERS INSURANCE COMPANY,
a California corporation, and Does 1-50.
Respondents.
Case No.: 03CC01758
Assigned for all purposes to
Michael Brenner, Superior
Court Judge, Department C-20
ORDER GRANTING
APPLICATION OF LIQUIDATOR
TO FOREGO CLAIMS PROCESS.
[California Insurance Code
§1021(c)(l)]
The Application of the Insurance Commissioner of the State of California, in his capacity as Liquidator of Western Growers Insurance Company ("the Company") came before this Court for an order permitting him to forego the claims process as contemplated by California Insurance Code §1021(c)(l) due to insufficient estate assets to satisfy claimant classes (a)(3) through (a)(9). In support of the motion, the Commissioner has provided an accounting of the financial circumstances of the Company that shows a net deficiency in assets as of August 31, 2003 of over fifteen million dollars.
As a result of this deficiency, the Commissioner projects that there will be insufficient assets in this estate to satisfy, in whole or in part, any claims beyond those described in California Insurance Code sections 1033(a)(l) [administrative expenses] and 1033(a)(2) [guaranty associations]. The Commissioner proposes to provide published notice to all potential claimants, including those holding
claims in classes that are unlikely to receive any distribution, and to inform such claimants by way of publication, that he will not be accepting proofs of claim from such claimants at this time due to insufficient assets. In so doing, the Commissioner will save substantial administrative costs associated with mailing notice to each creditor.
THIS COURT, having read the moving papers and the exhibits attached thereto, and finding that good cause exists, and having received no opposition from any party that requested notice herein,
ORDERS as follows:
The Commissioner, acting in his capacity as Liquidator of Western Growers
Insurance Company, shall publish notice in the Counties of Alameda, Los Angeles, Sacramento, San Diego, San Francisco, Santa Clara, and Orange once a week for four consecutive weeks, in compliance with section 1022 of the Insurance Code.
The published notice shall include further notice that, due to insufficient assets, the Commissioner, acting in his capacity as Liquidator of Western Growers Insurance Company, will not be accepting proofs of claim at this time, but that should sufficient assets be found, the Commissioner will send notice to the Creditors at that time and set a new Claims filing deadline.
The Commissioner, acting in his capacity as Liquidator of Western Growers Insurance Company, shall forego the notice procedure set forth in section 1063.7 of the Insurance Code, subject to later mailed notice, as set forth above, should sufficient assets be recovered to pay all or any portion of the claims described under Insurance Code Section 1033(a)(3) et.seq.
Upon publishing notice as set forth herein and upon filing an affidavit of completion of notice with this Court, the Commissioner and the Liquidation Estates shall be absolved from any liability that might be incurred thereby.
