Illinois Electrical Employers Workers Compensation Assoication, Inc.
Estate Closed
Liquidation Date: | November 3, 2000 |
Claim Filing Deadline: | November 5, 2001 |
Contingent Claim Deadline: | November 4, 2002 |
Estate Closed: | June 30, 2008 |
Docket Number: | 99 CH 17861 |
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Receivership Orders |
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Historical Data: | |
The Association was organized in 1995, pursuant to the State of Illinois' Workers Compensation Act, for the purpose of administering a program of group self-insurance for workers' compensation loss exposures of selected members of the Professional Electrical Contractors Association of Chicago. The Association was placed in rehabilitation by an agreed court order entered on December 20, 1999. On November 3, 2000, an Agreed Order of Liquidation With a Finding of Insolvency was entered against the Association. Contractual assessments were issued by the Liquidator to all members of the Association in order to fund the Association's outstanding claim and policy obligations. Litigation was required to collect the assessments from many of the Association's members. The claim filing deadline for presenting claims in the liquidation proceedings was November 5, 2001. The deadline for liquidating contingent claims was November 4, 2002. On July 13, 2005 the Liquidator's petition to distribute an interim dividend to all timely-filed and allowed priority level "d" claimants in the amount of 43.5678% of their claims was approved by the Supervising Court. On February 20, 2007 the Liquidator's petition to distribute a second interim dividend to all timely-filed and allowed priority level "d" claimants in the amount of 12.7515% of their claims was approved by the Supervising Court. On June 30, 2008, the Liquidator's petition to distribute a third and final dividend to all timely-filed and allowed priority level "d" claimants in the amount of 16.9477% of their claims was approved. In total, the priority level "d" claimants received dividends in the amount of 73.267% of their allowed claims. On June 30, 2008, the Supervising Court entered an order approving the closing of the estate, discharge of the Liquidator, and termination of the liquidation proceedings. Last updated July 2009 |