Liquidator: Insurer’s Liquidation Estate More Than $10M Short Of Paying Claims
Mealey's (October 21, 2015, 10:24 AM EDT) -- LOS ANGELES — The liquidator of an insolvent insurer told a California court on Oct. 16 that the insurer’s assets are inadequate to pay certain known claims and that it is therefore necessary to terminate the liquidation proceeding (Insurance Commissioner of the State of California v. Golden State Mutual Life Insurance Company, No BS123005, Calif. Super., Los Angeles Co.).
(Application to terminate liquidation available. Document #10-151023-016X.)
Judge David P. Yaffe of the Los Angeles County Superior Court appointed the insurance commissioner of the State of California...