Superintendent of Insurance v. Insurance Company
Served as principal outside counsel to the Superintendent of Insurance as statutory liquidator of a failed property and casualty insurance company. Work has mainly consisted of assisting the Liquidator's assets collection efforts and the prosecution of litigation on behalf of the Liquidator against various debtors of the insolvent insurer and parties responsible for the failure of the insurer. The litigation has included suits against the insurer's: directors and officers, insurance liability carrier for the directors and officers, employee theft insurance carrier, parent and affiliated companies, financial auditor, and various of the insurer's agents and high deductible insureds. In addition to assisting the Liquidator in prosecuting claims against others, we have assisted the Liquidator in defending claims against the liquidation estate, including lawsuits and claims filed by the Bankruptcy Trustee of the insurer's parent company, claims filed by another insurance company, and assessments made by the IRS. Also have assisted the Liquidator in running out the affairs of the insurance company, such as terminating the insurance company's pension plan, and in administering the liquidation proceeding, such as developing the statutorily required early distribution plan for state insurance guaranty funds.