November 6, 2006 - Court grants Commissioner's Order Approving Verified Application For Order Authorizing Proposal For Second Early Distribution of Assets to State Insurance Guaranty Associations or Funds. $5M in distribution was sent on November 8, 2006.
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BILL LOCKYER
Attorney General of the State of California
RANDALL P. BORCHERDING
Supervising Deputy Attorney General
DAVID LEW
Deputy Attorney General
State Bar No. 77186
1515 Clay Street, Suite 2000
P.O. Box 70550
Oakland, CA 94612-0550
Telephone: (510) 622-2225
Facsimile: (510) 622-2121
Attorneys for Applicant Insurance Commissioner of
the State of California
SUPERIOR COURT OF CALIFORNIA
COUNTY OF SAN FRANCISCO
INSURANCE COMMISSIONER OF THE STATE
OF CALIFORNIA,
Applicant,
v.
GREAT STATES INSURANCE COMPANY, a
California domiciled insurance company,
Respondent.
NO. 320047
ORDER
APPROVING VERIFIED
APPLICATION FOR ORDER
AUTHORIZING PROPOSAL
FOR SECOND EARLY
DISTRIBUTION OF ASSETS
TO STATE INSURANCE
GUARANTY ASSOCIATIONS
OR FUNDS
Date:
November 6, 2006
Time:
9:30 a.m.
Dept:
301
Judge:
Hon. Peter J. Busch
Applicant Insurance Commissioner of the State of California’s verified application for an order authorizing the proposal for a second early distribution of assets to state insurance guaranty associations or funds, having come before this Court in Department 301 on November 6, 2006, and the Court having considered the motion, no opposition having been filed, and GOOD CAUSE APPEARING, THE COURT MAKES THE FOLLOWING ORDER:
The Commissioner's proposal to distribute assets of the estate of Great States in the amount of approximately $5,000,000 to various state insurance guaranty associations or funds, as set forth in the Attachment to this Order, is APPROVED.
The Commissioner shall take any and all action necessary to accomplish the purposes of the Order approved herein.
IT IS SO ORDERED.
Dated:
NOV 06 2006
HAROLD KAHN
Judge of the Superior Court
ATTACHMENT TO ORDER
The Commissioner shall distribute and pay each guaranty fund the following amount:
1.
Special Fund of the Industrial Commission of Arizona
$728,560
2.
California Insurance Guarantee Association
$2,285,681
3.
Colorado Insurance Guaranty Association
$1,823,401
4.
Illinois Insurance Guaranty Fund
$54,180
5.
Nevada Insurance Guaranty Association
$87,613
6.
New Mexico Property & Casualty Ins. Guaranty Assn.
$0
7.
Texas Property & Casualty Ins. Guaranty Association
