by John Darer CLU ChFC MSSC RSP
New York City law firm Kobre & Kim LLP announced that it is working to understand the amount to which Executive Life of New York (ELNY) structured settlement annuity holders may be entitled under various guaranty association acts and agreements with insurers, and is conducting an analysis of how exposure on the shortfalls may be reduced or eliminated, according to its press release of January 3, 2012.
New York Liquidation Bureau Gave ELNY Annuitants Less than One Month to Respond to Bombshell Notice
In connection with the insolvency of ELNY, on December 7, 2011, the New York Liquidation Bureau mailed shortfall letters to many individual ELNY structured settlement annuity beneficiaries (SSA payees) notifying them about the proposed liquidation and restructuring agreement filed in November, as well as the amount of shortfall for each structured settlement annuity payee. The Supreme Court of Nassau County of the State of New York set a January 16, 2012 deadline for the filing of answering papers to the Petition for Order of Liquidation and Approval of Restructuring Agreement. Because January 16, 2012 is a national holiday, the real deadline (unless it is extended) is a few days earlier.
Carrie A. Tendler [email protected] 212-488-1213 and
Michael S. Kim [email protected] 212-488-1201 are the Kobre & Kim lawyers handling questions for structured settlement annuitants and/or holders of structured settlement payment rights.
Disclaimer: This information is provided as a service to our readers and to annuitants and/or owners of Executive LIfe of New York (ELNY) structured settlement payment rights, and is not an endorsement of any particular law firm or service. It is possible that other law firms providing similar services to annuitants and/or owners of Executive LIfe of New York (ELNY) structured settlement payment rights may make themselves known in the near future.
More information
Watch December 19, 2011 video on ELNY Liquidation featuring John Darer and Mark Wahlstrom which appeared on Legal Broadcast Network .
Read Structured Settlement Watchdog coverage of Executive LIfe of New York (ELNY)
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