by John Darer
What 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