The New York Insurance Superintendent, as Rehabilitator of Executive Life Insurance Company of New York (ELNY), has advised the Court in Nassau County that the anticipated plan of liquidation for ELNY will not be ready for filing before Thursday, September 1, 2011. This is the third postponement from the Court's original July 1 deadline. Previous postponements were to August 9, 2011 and today August 26, 2011.
Executive Life Insurance Company of New York structured settlement annuitants should note that the filing of a proposed plan will be just be the first public step in a process that can be expected to extend into 2012.
Hurry up and wait!
Leave a Reply