Legal Opinion
In Re the Liquidation of Lawyers Mortgage Co.
New York Court of Appeals
Decided July 19, 1944PublishedCited by 5 opinions
1Opinion of the CourtLoughran, J.
In this proceeding under former article XI (now XVI) of the Insurance Law for the liquidation of Lawyers Mortgage Company, the court approved a plan of reorganization which was adopted by the Superintendent of Insurance as liquidator. Pursuant thereto, the liquid assets were transferred to an “ Operating Company ” and four “ Organization Managers ” were appointed with authority to purchase the nonliquid assets for disposal through a “ Realization Corporation.”
On July 23, 1942, the managers made a written offer to buy the nonliquid assets for $4,909,000 and thereupon requested the…
2Cases cited3 opinions
- Matter of People (Tit. Mtge. Guar. Co.)New York Court of Appeals · 1934
- Matter of Casualty Co. of Am. (Rubin Claim)New York Court of Appeals · 1927
- In Re the Bank of the United StatesNew York Court of Appeals · 1943
3Cited by5 opinions
- Consolidated Edison Co. of New York, Inc. v. Insurance DepartmentNew York Supreme Court · 1988
- Superintendent of Insurance v. Bankers Life & Casualty Co.District Court, S.D. New York · 1975
- Capitol Indemnity Corp. v. CurialeDistrict Court, S.D. New York · 1994
- Elledge v. Stillwater Medical CenterCourt of Civil Appeals of Oklahoma · 2002
- Ratchford v. Proprietors' InsuranceOhio Supreme Court · 1989