Receiver Asks For Court’s OK To Enter Into Trust Disbursement Agreement
(October 2, 2015, 7:29 AM EDT) -- AUSTIN, Texas — An insolvent insurer’s special deputy receiver asked a Texas court on Sept. 21 to allow it to enter into an agreement with New Mexico’s insurance superintendent on how to dispose of a $335,000 deposit put in trust by the insurer (The State of Texas v. Gramercy Insurance Co., No. D-GV-12-001713, Texas Dist., Travis Co.).
(Application for authority to obtain release of deposit available. Document #10-151023-001X.)
Gramercy Insurance Co. was placed into liquidation on Aug. 26, 2013, by the Travis County, Texas, District Court,...