Receivership Orders

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

The claim filing deadline for presenting claims in the liquidation proceedings was November 5, 2001.  The deadline for liquidating contingent claims was November 4, 2002.   On July 13, 2005 the Liquidator's petition to distribute an interim dividend to all timely-filed and allowed priority level "d" claimants in the amount of 43.5678% of their claims was approved by the Supervising Court.

On February 20, 2007 the Liquidator's petition to distribute a second interim dividend to all timely-filed and allowed priority level "d" claimants in the amount of 12.7515% of their claims was approved by the Supervising Court.

On June 30, 2008, the Liquidator's petition to distribute a third and final dividend to all timely-filed and allowed priority level "d" claimants in the amount of 16.9477% of their claims was approved.  In total, the priority level "d" claimants received dividends in the amount of 73.267% of their allowed claims.

On June 30, 2008, the Supervising Court entered an order approving the closing of the estate, discharge of the Liquidator, and termination of the liquidation proceedings.

Last updated July 2009.