OSD Mission Statement
Our mission is to achieve consumer protection through receivership resolution expertise and the execution of a resolution strategy appropriate to the unique circumstances of each troubled company estate, including maximization of asset recovery, fair disposition of claims, and timely delivery of assets to creditors.
OSD Latest News
Public Service Insurance Company, In Rehabilitation On September 14, 2017 the Rehabilitator filed a Motion For Approval of Procedures for Notice, Comment and Hearing on the Rehabilitator’s Petition For Approval of: (1) Plan of Rehabilitation for Public Service Insurance Company and Public Service Mutual Holding Company; and (2) Assumption, Assignment and Novation Agreement. You can find the motion here.
Lumbermens Mutual Casualty Co. September 11, 2017: The Liquidator is soliciting bids from parties interested in entering into a purchase agreement with the Estate for purposes of purchasing 100% Of the Shares Of Stock Of Specialty Surplus Insurance Company, a wholly owned subsidiary of Lumbermens. You can find the Invitation For Bids and Non-Disclosure Agreement here.
Millers First Insurance Company On August 30, 2017, an Order of Liquidation With A Finding of Insolvency was entered against Millers First Insurance Company (“Millers First”) by the Circuit Court of Cook County, Illinois pursuant to the provision of Article XIII, 215 ILCS5/187 et. seq., of the Illinois Insurance Code, 215 ILCS 5/1 et seq. Jennifer Hammer, Director of the Illinois Department of Insurance, was affirmed as the statutory Liquidator of Millers First.
Land of Lincoln Mut. Health Ins. Co. The Liquidator is soliciting bids from parties interested in entering into a purchase agreement with the Estate for purposes of purchasing title to a portion of the Net Proceeds of the lawsuit captioned as Land of Lincoln Mutual Health Insurance Company v. United States, Case No. 16-744C, if any, in consideration of its payment to the Estate at closing of an amount up to $37,000,000. You can find the Invitation For Bids and Non-Disclosure Agreement here.