Special Deputy Receiver Asks For Permission To Make Early Access Distribution

Mealey's (August 5, 2015, 9:26 AM EDT) -- AUSTIN, Texas — The special deputy receiver of an insolvent insurer asked a Texas court on July 31 for permission to make an early access distribution to certain states’ insurance guaranty associations (The State of Texas v. Gramercy Insurance Co., No. D-GV-12-001713, Texas Dist., Travis Co.).

(Application for approval of first early access payments available. Document #10-150828-015X.)

Gramercy Insurance Co. was placed into liquidation on Aug. 26, 2013, by the Travis County, Texas, District Court. Gramercy’s special deputy receiver (SDR) is Resolution Oversight Corp.

The SDR...
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