Special Deputy Liquidator Wants To Distribute $4.6M To Guaranty Associations

(September 15, 2016, 8:35 AM EDT) -- AUSTIN, Texas — The special deputy receiver (SDR) of a Texas insurer in liquidation on Sept. 6 asked a Texas court to grant it the authority to distribute $4.6 million of liquidation estate assets to the insurance guaranty associations from 29 states (The State of Texas v. Gramercy Insurance Co., No. D-GV-12-001713, Texas Dist., Travis Co.).

(Application available. Document #10-160923-014X.)

The Travis County, Texas, District Court placed Gramercy Insurance Co. into liquidation on Aug. 26, 2013, and Resolution Oversight Corp. was named as Gramercy’s SDR....
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