Texas Special Deputy Receiver Authorized To Collect Out-Of-State Deposit

Mealey's (November 5, 2015, 7:05 AM EST) -- AUSTIN, Texas — A Texas judge on Oct. 9 granted the special deputy receiver of an insurer in liquidation the authority to obtain the release of a $335,000 deposit made by the insurer in New Mexico (The State of Texas v. Gramercy Insurance Co., No. D-GV-12-001713, Texas Dist., Travis Co.).

(Order available. Document #10-151120-003R.)

The Travis County, Texas, District Court placed Gramercy Insurance Co. into liquidation on Aug. 26, 2013, and Resolution Oversight Corp. was named as Gramercy’s special deputy receiver (SDR).

The SDR applied with...
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