Receivership Orders

Agora had been in run off since approximately July 1, 2000.  The company wrote direct and assumed reinsurance under various programs of commercial general liability and liquor liability coverages. In addition, recreational facilities, manufacturing and premise related coverages were also offered in 40 states on an excess and surplus lines or non-admitted basis.

The claim filing deadline was November 15, 2001, with a contingent claim date of November 15, 2002.  634 claims have been filed with the Liquidator.

Initially, the receivership proceedings were adversarial, with Agora contesting the Complaint for Liquidation. The Order of Liquidation was entered over their objections. The company appealed. The Appellate Court issued its decision in favor of the Liquidator, affirming the lower court's order. The company petitioned the Illinois Supreme Court for leave to appeal, which was denied. While the appeals were pending, the liquidation proceedings were not stayed and an Appeal Pendency Plan was approved by the Court.  The liquidation is currently proceeding in the normal course.

The Liquidator's involvement in litigation with INEX is now resolved.  On November 26, 2003, the court entered an order approving the INEX Plan of Distribution.  The INEX Guaranty Fund's assets are available for distribution on a pro rata basis to the policyholders of all syndicate insolvencies who have covered claims under the INEX Guaranty Fund's plan of operation.  Distribution will be made when all other open estate issues are at or near completion.

On December 20, 2006, the supervisory court entered an order approving the Liquidator's plan of final distribution, which will result in a 64.3086% dividend on all allowed priority level (d) claims. The liquidation proceedings have been terminated and the estate has been closed.
Last updated July 2009