In re the Liquidation of Manhattan Casualty Co.

Petitioner, the Superintendent of Insurance of the State of New York, appointed liquidator of the subject insurance company (Manhattan Casualty Company) by order issued in 1963, seeks court approval of the settlement of two actions in which petitioner, acting as liquidator, is plaintiff. One of these actions is pending in this court, and one in the United States District Court for the Southern District of New York. In the proposed settlement, $1,000,000- will be paid petitioner. Petitioner asserts tljat this would result in payment in full of all allowed claims of creditors.

Objections to the…