liquidation News

Florida Policies in Limbo Over Proposed Insolvency Surcharge

The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners’ policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two …

Appeals Court Clears Investor Lawsuit Seeking $200M From Former Tower Group Owners

Creditors who say they were swindled out of more than $200 million by the former owners of the liquidated CastlePoint group of insurance companies may proceed with most of the claims they made in a New York lawsuit, a California …

Florida Begins Liquidation of American Capital Assurance; Policies to Cancel May 14

Florida-based American Capital Assurance Corp. is officially in receivership and is in the process of being liquidated after being deemed insolvent by Florida’s insurance regulator earlier this month. The Florida Department of Financial Services, which serves as the receiver for …

Church Official Warns of Financial Flood Due to Abuse Claims

SANTA FE, N.M. (AP) — A top official with the Archdiocese of Santa Fe says a financial flood from clergy sex abuse claims is coming and a settlement would serve as the dam to prevent devastation to parishes across northern …

Toys ‘R’ Us Creditors Sue Directors and Private-Equity Owners

Toys “R” Us Inc. creditors filed a lawsuit accusing the defunct retailer’s executives and private-equity owners of fraud and breach of fiduciary trust. Former Chief Executive Officer David Brandon and other directors misrepresented the toyseller’s ability to repay creditors after …