Structured Settlements 4Real®Blog 2026
Structured settlements expert John Darer reviews the latest structured settlements and settlement planning information and news, and provides expert opinion and highly regarded commentary. that is spicy, Informative, irreverent and effective for over 20 years.
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about
Category: ELNY Liquidation News and Commentary
ELNY Liquidation News and Commentary follows the the February 6, 2013 decision of the New York Appellate Division, Second Department issued a decision on February 6, 2013, that effectively affirmed Justice John Galasso’s April 16, 2012 order placing ELNY in liquidation and approving the ELNY Restructuring Agreement.
In the Matter of Executive Life Insurance Company of New York. Superintendent of Financial Services, formerly known as Superintendent of Insurance of State of New York, petitioner-respondent; Jennifer Aracil Appling, et al., appellants; National Organization of Life and Health Insurance Guaranty Associations, etc., nonparty-respondent.
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The ELNY Liquidation is expected to affect approximately 1,400 annuitants who entered into structured settlements between 1982-1988. The legal action questioned the fairness of the rehabilitation and liquidation process
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Unlike Executive Life Insurance Company of New York where there is an insolvent assignmment company AND an insolvent annuity issuer, in the Reliance case there is a solvent life insurer and an insolvent qualified assignment company which is subject to a liquidation.
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In 2007, National Underwriter observed “Earlier Life Bureau administrations may have “significantly understated” the Executive Life of New York shortfall “by utilizing accounting methods that did not accurately reflect the estate’s financial condition,”
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What do the New York Liquidation Bureau and “Regan MacNeil” have in common? Both are in need of an “exorcism”, according to attorneys advocating against The New York Liquidation Bureau handling of the Executive Life Insurance Company of New York (ELNY) affair.
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That being said, who was responsible for placing all of Mr. Arensdorf’s structured settlement with ELNY in 1984? What was their rationale in doing so for someone as profoundly disabled as Glenn Arensdorf when this was all Glenn Arensdorf had?
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An effort to assure that history isn’t rewritten and structured settlements are not unfairly mischaracterized by ELNY victims or the media and, an effort to educate others and to help prevent the same mistakes by financial planners, lawyers, judges, structured settlement brokers, annuitants or guardians, in whatever combination or capacity in the future we present…
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A historical examination of what factors influenced sophisticated people , in this case executives of a massive consumer conglomerate (that was in 1988 was subject of the largest leveraged buyout in American history at the time), to shun first impression and do an “all in one basket” placement of its retirees’ pension buyout in the…
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If you were running a business and a customer, who represented 20% of last year’s sales, decided to no longer do business with you, do you think there would be any financial impact on the company? How could settlement advisers place people into ELNY following many concerning news reports?
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Hudson’s blanket commentary fosters the need to balance sympathy for ELNY victims, ( many minors when their structured settlement was established, who had no say in its creation), with a harsh reality that they do not share with all who have entered into a structured settlement.
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NSSTA says that as part of efforts to assure that all ELNY “shortfall” payees have an opportunity to pursue recovet from ELNY Hardship Fund, the Fund administrators at JAMS have begun contacting owners of ELNY annuities that fund buy-and-hold settlements. In other words “JAMS on it”.