Foster v. Colonial Assurance Co.

SMITH, Judge.

Before the Court are the objections filed by Royal Bank of Canada (Royal Bank) to the claim evaluation issued by Cynthia M. Maleski, Insurance Commissioner of the Commonwealth of Pennsylvania, as Statutory Liquidator (the Liquidator) of Colonial Assurance Company (Colonial).1 Royal Bank, as a loss payee, filed a $2,013,286.04 claim against Colonial for the residual value of two Helicopters pursuant a policy of insurance (Policy) issued by Colonial to now defunct Spanno Corporation (Spanno), a corporation engaged in the business of appraising aircraft for third parties. The…