See Notice of Liquidation for details. At the close of this day, my assignment as Deputy Liquidator for Integrity Insurance Company in Liquidation ends. The following notice conveys that event. We have added Judge Wilson's Order formally closing the Estate to this web site. All Estate operations are now complete and the Estate is liquidated. We are gratified to have marshaled sufficient assets so that we could make a final distribution that cumulatively represented 92 cents on the dollar.
Would that such a result could have been effected years earlier. As many of you know, the Liquidator sought an early closing of the Estate using estimation techniques common in federal bankruptcy. Because such techniques are not specified in state statutes, including those of New Jersey, we sought judicial authority. Fortunately, the N.J. Supreme Court ("NJSC") recognizing the hollowness of that appellate reversal sanctioned its appeal.
Notwithstanding the NJSC's understanding of what the Liquidator endeavored to do, the Court in a 3-2 decision concluded that the Estate could not use estimation techniques for certain claim liabilities.
Would that such a result could have been effected years earlier. As many of you know, the Liquidator sought an early closing of the Estate using estimation techniques common in federal bankruptcy. Because such techniques are not specified in state statutes, including those of New Jersey, we sought judicial authority. Fortunately, the N.J. Supreme Court ("NJSC") recognizing the hollowness of that appellate reversal sanctioned its appeal.
Notwithstanding the NJSC's understanding of what the Liquidator endeavored to do, the Court in a 3-2 decision concluded that the Estate could not use estimation techniques for certain claim liabilities.
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