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Deputy Receiver Asks For OK Of $33 Million Settlement With U.S. Government

(October 1, 2015, 9:12 AM EDT) -- AUSTIN, Texas — A special deputy receiver on Sept. 28 asked a Texas court to approve a settlement agreement under which an insurer’s rehabilitation estate will pay the U.S. government $33 million regarding certain customs bonds (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 #10-151023-008X.)

Highlands Insurance Co. was placed into receivership by the Travis County District Court on Nov. 6, 2003. Texas’ commissioner of insurance was appointed as Highlands’ receiver, and...
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