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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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 former broker stated to me that it in fact it was the plaintiff lawyer who insisted on Executive Life. The broker’s client refused to do business with Executive Life, but the plaintiff attorney persisted and accused the insurance company of not giving his client “full market access”.
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While many plaintiff lawyers today DO engage settlement planners , Certified or Master Structured Settlement Consultants as part of their team, there are enough who don’t, making this story a stark reminder of why a lawyer SHOULD NOT be “flying solo” when dispensing financial advice
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Between 1983-1989 1,500* injury victims shunned more established companies and diversification, to to put all their eggs in one basket, 100% of their structured settlement annuities with a single, small, junk bond rich company, Executive Life Ins.Co of NY/ ELNY, which offered the highest rates.
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n 1982 15% of the assets of First Executive were invested in junk bonds and by1985 it was well on the way to the peak of 45% it eventually “achieved”. Red Flags everrywhere! What were the broker and the lawyer thinking?
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I want to do something that the mainstream press has not done. I am seeking out ELNY Victims who have full documentation about their structured settlements and the circumstances that led to the placement of 100% of their personal injury or wriongful death settelment funds in an ELNY annuity.
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I question the wisdom of posting of a blog, coinciding with the mailing of the benefit reduction letters to ELNY annuitants, which was was labeled “(I’ve had) the time of my life”, a “witty” (yet unwitting) nod to “(I’ve Had) The Time of My Life” a hugely popular song released in 1987 (when Executive Life…
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Lieutenant Dan Taylor” lost a pair of limbs in Vietnam before being rescued by private Forrest Gump in the 1994 movie. Seeking more than a successful shrimping business in Bayou La Batrie, Louisiana, actor Gary Sinise is doing bigger and better things as a humanitarian.
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Like the punchline to the Natasha Bedingfield lyric, “the rest is still unwritten”. ELNY annuitants want to know when the ELNY Hardship Fund will begin to open up “that dirty (ELNY) window”
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Judge Galasso, has dropped the Nassau Cty guillotine on or about the 100th anniversary of the sinking of the Titanic, the 23 rd anniversary of the Hillsborough Disaster and the 5th anniversary of the VIrginia Tech massacre).
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I never placed any ELNY or Executive Life business having seen red flags that should have been obvious to anyone who read/watched the news, including lawyers, financial advisers, victims and guardians or parents of those who were minors when the structured settlements were created.