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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If you are a claims executive or CFO of an insurer holding Executive Life Insurance Company of New York annuity paper purchased in the 1980s ("buy and hold") and now facing the prospect of making up shortfalls to injury victims there are some ways to mitigate your exposure and do right by the annuitant. For…
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New York Liquidation Bureau gave Executive Life of New York structured settlement payees less than one month to respond to the bombshell notice of December 7, 2011 about the proposed liquidation and restructuring of ELNY
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Yesterday was “soitenly” not a “nyuk-nyuk-nyuk” for ELNY shortfall victims as NY State Supreme Court Judge John M. Galasso denied introductions of more witnesses to be put on by attorney Edward Stone and placed objections of ELNY victims under seal.On the plus side…
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Eddie Stone, attorney for ELNY shortfall victims pulled off a "suplex" in Nassau County New York Supreme Court yesterday as "referee", Judge John M. Galasso overruled strenuous objections of lawyers for the Superintendent of the New York State Department of Financial Services (Superintendent), as Receiver for Executive Life of New York (ELNY), to permit expert…
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ELNY is Executive Life Insurance Company of New York, an insurance company that is in the throes of a liquidation hearing. ELNY was placed in rehabilitation in April 1991 after getting inebriated on junk bonds in the 1980s.
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ELNY asset/liability and surplus picture from 1994-2010 and the percentage of coverage of assets to liabilities,
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“Mr. Darer I have found your website to be extremely professional and helpful. Being an ELNY shortfall victim it is refreshing and very appreciated that a person of your knowledge and professional background is willing to offer insight and opinion”.
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There would be a sign in every store front and agent’s or broker’s office emblazoned with “FDIC”, “SIPC” and a putative insurance equivalent. Awkward silences, sidelips and exhibitions of speaking to the right of fingers outstretched to prevent people to the left of them from seeing, in insurance sales presentations would disappear.
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Consumers may not understand that they get one set of protections when buying an annuity or receiving an annuity funded structured settlement, different protections when buying a variable annuity and unclear protections when buying structured settlement payment rights
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The proposed liquidation of Executive Life of New York (ELNY) has potential fall out for investors in at least one structured settlement securitization, according to “the world’s oldest and most authoritative insurance rating and information source”, A.M. Best Company.