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INSUR COMM OF CALIF VS GOLDEN EAGLE INS, CPF-97-984502, No. 05897429 (California State, San Francisco County, Superior Court Jun. 9, 2017)
During the course of those discussions, a relatively small number of claims and administrative matters popped up that the Commissioner and Liberty Mutual are working to address in order to clear the path for a closing proposallater this year.
A handful of administrative and claim items have arisen recently that must be addressed before moving forward with a plan to assist the court in closing the liquidation proceedings.
Golden Eagle Insurance Corporation, an affiliate of Liberty Mutual (“GEICorp”) in its capacity as Claims Administrator under the Rehabilitation Plan, has not yet appeared before this Court on the San Diego Hardware OSC, but counsel for GEICorp is currently addressing this matter with counsel for San Diego Hardware, and it is the Commissioner’s understanding that the matter may be resolved without the need to move forward with a hearing on the OSC.
In addition to the as yet unutilized reinsurance protection available to policyholders, the Golden Eagle estate also maintains a cash reserve, the current balance of which is approximately $1.6 million, to cover future administrative expenses.
on the interested parties in this action by placing true and correct copies thereof in sealed envelope(s) addressed as follows: C. Guerry Collins Locke Lord LLP 300 S. Grand Avenue, Suite 2600 Los Angeles, CA 90071 Karen Nicholson Sommers Special Assistant U.S. Attomey 701 B Street, Suite $01 San Diego, CA 92101 David Hancock, Esq. 15345 Boxelder Road Westmoreland, KS 66549 IRS Director 24000 Avila Road Laguna Niguel, CA 92656 Golden Eagle Insurance Corporation 1615 Murray Canyon Rd.
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INSUR COMM OF CALIF VS GOLDEN EAGLE INS, CPF-97-984502, No. 05897429 (California State, San Francisco County, Superior Court Jun. 9, 2017)
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