Office of the Special Deputy Receiver

Representing Jennifer Hammer, Director of Insurance, Illinois Department of Insurance

Jim Stephens, Special Deputy Receiver & Chief Executive Officer

Assignment of Claim

Procedure

The Office of the Special Deputy Receiver respects the right of claimants to assign claims. In an effort to ensure that such assignments are valid, and that the processing of assignments does not create an undue burden on estate resources, the OSDR has adopted the following policy regarding the processing of assignments.

  • Upon receipt, the assignment instrument, and all underlying documentation related to the assignment, including but not limited to consideration, will be reviewed to make sure they are unaltered copies, and that the documents are signed and notarized. No portions of the assignment documentation may be obscured or blanked-out.
  • The claim assignment must include an affirmation by the assignor (seller) that it has reviewed the receivership estateís website and is aware of the Receiverís then-current published estimates of the amount and timing of the ultimate claims distribution, including the Receiverís Good Faith Estimate, if available. The Receiver will not recognize the validity of any claim assignments that do not contain the written acknowledgment.
  • The assignor will be contacted and asked to confirm in writing that they did indeed assign their claim to the party listed on the document. A letter, fax or E-mail from the assignor will be accepted as a form of confirmation.
  • The assignee will be contacted in writing (letter, fax or E-mail) informing them that the assignment has been received and approved by the Receiverís office.
  • Assignments of claim will not be accepted after the distribution petition has been filed with the Supervising Court.

Please mail all assignment forms to:

Office of the Special Deputy Receiver
Claims Department
222 Merchandise Mart Plaza
Suite 960
Chicago, IL 60654
If you have any questions, please e-mail: inquiry@osdchi.com

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