Special Deputy Receiver Asks Court To OK $9 Million Payment To Asbestos Trust

Mealey's (February 17, 2016, 1:14 PM EST) -- AUSTIN, Texas — The special deputy receiver (SDR) of an insurer in rehabilitation asked a Texas court on Feb. 16 to approve a nearly $9 million payment to an asbestos bodily injury trust (State of Texas v. Highlands Insurance Company, No. D-1-GV-03-004537, Texas, 53rd Dist., Travis Co.).

(Application for approval of settlement agreement available. Document #10-160226-024X.)

The Travis County District Court moved Highlands Insurance Co. into receivership on Nov. 6, 2003, and Texas’ commissioner of insurance was appointed as Highlands’ receiver. The commissioner appointed Prime Tempus...
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