Justice Asks Parties To Show Cause Regarding Closure Of Ancillary Receivership

(October 20, 2015, 1:42 PM EDT) -- NEW YORK — A New York justice on Oct. 7 issued an order to show cause, asking for input into the proposed termination of the ancillary receivership of an insolvent out-of-state insurer (In the Matter of the Ancillary Receivership of PHICO Insurance Company, No. 401785/02, N.Y. Super., New York Co.).

(Order to show cause available. Document #10-151023-013R.)

The PHICO Insurance Co. was placed into liquidation in Pennsylvania in February 2002, and that state’s commissioner of insurance was appointed as its liquidator. An ancillary receivership proceeding was...
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