Receivership Orders

The Trust was organized in December 1992, pursuant to the State of Illinois' Workers Compensation Act, for the purpose of administering a program of group self-insurance for workers' compensation loss exposures of selected members of the Land Improvement Contractors of America. The Trust was placed in conservation by a court order entered on August 19, 1999. An Agreed Order of Rehabilitation was entered on October 21,1999. An Agreed Order of Liquidation was entered on October 26, 2000.

Contractual assessments were issued by the Liquidator to all members of the Trust in order to fund the Trust's outstanding claim and policy obligations. Litigation was required to collect the assessments from many of the Trust's members.

The claim filing deadline for presenting claims in the liquidation proceedings was October 26, 2001.  The deadline for liquidating contingent claims was October 28, 2002.  755 claims were filed with the Liquidator and have been reviewed and adjudicated.  In July 2005, the Liquidator's petition to distribute an interim dividend to all timely-filed and allowed priority level "d" claimants in the amount of 28.1402% of their claims was approved by the Supervising Court.

On August 30, 2006, the Supervising Court approved a second and final dividend distribution in the amount of 18.9640% for all timely-filed claims allowed at priority level (d) of the statutory asset distribution schedule.  The Court also approved the closing of the estate and termination of the liquidation proceedings.