Judge Ends Ancillary Receivership, Approves Distribution Of Funds
(June 30, 2016, 10:09 AM EDT) -- TALLAHASSEE, Fla. — A Florida judge on June 15 approved the ancillary receiver of an insolvent Puerto Rican insurer’s request to be allowed to distribute certain collected funds and end the proceeding (State of Florida, ex rel., the Florida Department of Financial Services v. National Insurance Company, No. 2015-CA-1625, Fla. Cir., 2nd Cir., Leon Co.).
(Order available. Document #10-160722-005R.)
National Insurance Co. (NIC) was placed into rehabilitation on May 17, 2011, by the commissioner of Insurance of Puerto Rico. NIC was ordered into liquidation on Oct....