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
Employer's Consortium V, Inc. – Based upon best estimates and barring any unforeseen circumstances, the Liquidator expects that a dividend of 100% will be distributed by the end of the 4th quarter of 2016 on all timely filed claims that have previously been presented to the Supervising Court and allowed at the policyholder and general creditor priority Levels D & G of the Illinois statutory distribution scheme. This Good Faith estimate is based upon information available and the circumstances known at the time that it was made. Before relying on this estimate in making any decisions, be aware that underlying facts and circumstances upon which it is based are subject to change.
Lumbermens Mutual Casualty Company – In an order entered on October 31, 2016, the final date by which an insured having a contingent claim (i.e., a claim as to which the insured’s liability had not been determined as of May 10, 2013) may present evidence of payment (of both loss and defense fees incurred after the liquidation date) to the Liquidator was extended from November 10, 2016 to November 10, 2017. This deadline does not apply to either the non-contingent claims of insureds or to persons asserting claims insureds.
Land of Lincoln Mutual Health Insurance Company - On September 29, 2016, an Agreed Order of Liquidation With A Finding of Insolvency was entered against Land of Lincoln Mutual Health Insurance Company (“Land of Lincoln”) by the Circuit Court of Cook County, Illinois pursuant to the provision of Article XIII of the Illinois Insurance Code, 215 ILCS5/187 et. seq. The order is effective 12:01 a.m. Central Standard Time, on October 1, 2016.