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March 02, 2013

"Head Spinning" Stuff | Exorcism Needed To Rid ELNY "Demons" Opine Attorneys

by John Darer

WExorcist_stepshat do the New York Liquidation Bureau  and "Regan MacNeil" have in common? Both are in need of an "exorcism", according to attorneys advocating against The New York Liquidation Bureau handling of the Executive Life Insurance Company of New York (ELNY) estate.

Attorney Eddie Stone holds forth the figurative cross and figuratively chants 'The "Power of Christ-ensen Compels You" '  in the first of what is promised to be several stinging missives published in the Peter Bickford/ CINN Worldwide vehicle, Insurance Advocate February 18, 2013 (Volume 124, Number 4), in which he and legal and insurance expert Peter Bickford attack the NYLB and current system of statutory protections with a eye towards Federal regulation of insurance.

While I have had the opportunity to read a courtesy copy of the entire article by Stone and the cover story by Peter H. Bickford, it had not yet been published on the Insurance Advocate website as of the time of the post.  I will add a link when it does.                                     

Stone and Salt Lake City's Christensen & Jensen represent a number of ELNY shortfall payees. The focus of their argument is on the alleged "pea soup" (mismanagement) spit up  by insurance regulators and the NYLB potential constitutional issues related to the ELNY liquidation proceedings.

 

 Image:  The "Exorcist Steps" Georgetown, Washington, DC  Source; Wikipedia

 

 

 

 

Posted at 02:53 PM in ELNY Liquidation News and Commentary, Executive Life Insurance Company of NY ("ELNY") |

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  • Structured Settlement Lock-Ins | What You Need To Know
    What Does a Structured Settlement Lock-In Mean? How do does a plaintiff benefit from a rate lock in? How does the defendant/insurer/court benefit from using a lock-in. Where to be careful in using lock ins.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    If you already have a structured settlement this is highe time saver. This is a very useful list compiled by 4structures.com LLC, which includes both current AND former structured settlement annuity issuers and reinsurers. No need to be frustrated if you have simple bank or beneficiary changes, or the annuity company has merged or changed its name and you're trying to track them down. The list is regularly updated. Last update March 2013.
  • Structured Attorney Fees for Tax Deferral on Cases That Settle in 2013
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    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. You can also diversify your structured settlement by funding with more than one annuity issuer and/or with treasury funded structured settlements
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return IRR) of a structured settlement to other alternatives or complements. Need help with the chart? Call 4structures.com LLC at 888-325-8640
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities
  • Structured Settlement Annuity Companies 2013
    Which life insurance companies issue structured settlement annuities? A list of structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors, links to their websites and other useful information. April 2013 update
  • Rated Ages and Structured Settlements
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk bearing to a life insurance company whose business it it is to assess mortality risk to price its life and annuities. Boost your structured settlement annuity benefit or your yield on lifetime payments. Rated ages help to lower the cost of a Medicare Set Aside arrangement where a Structured MSA is being used.
  • How Do Structured Settlements Work? Structured Settlement Diagram
    The technical aspects of a structured settlement transaction explained, accompanied by 4structures.com LLC's helpful structured settlement flow chart/diagram showing how structured settlements fit in with other settlement planning solutions.
  • What is a Structured Settlement? Structured Settlements 101
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