Days late, dollars short: ELNY liquidation date set
August 8, 2013 by Elizabeth Festa
The regulatory saga of the Executive Life of New York (ELNY) is coming to an end of sorts, with the liquidation of the estate and the kick-off of the restructuring plan beginning Aug. 8, almost 22 years after it was seized — more than a day later and well more than a dollar short.
ELNY’s restructured liabilities are now being fully transferred to the not-for-profit captive insurance company, Guaranty Association Benefits Company (GABC), which is domiciled in Washington, D.C.
GABC will assume those liabilities. Click here to read…