COURT ORDERS THE REHABILITATION PROCEEDING OF INSURER TERMINATED
Hudson, the Superintendent of the Ohio Department of Insurance, in her capacity as Rehabilitator of Colonial Insurance Company (“Colonial”), brought an application for an order, which was subsequently granted, terminating the rehabilitation proceeding of Colonial, authorizing the transfer of funds to the Ohio Department of Commerce, discharging and releasing the Rehabilitator, authorizing the final accounting, authorizing the closing of the estate and the dissolving of the corporate entity, approving the destruction of certain books and records, approving abandonment of physical assets, authorizing the closing of Colonial bank accounts, and authorizing related actions to close the estate or carry out the court’s orders. Hudson v. Colonial Ins. Co., Case No. 03 CVC 01 00597 (Ohio Super. Ct. Dec. 22, 2008).
This post written by Dan Crisp.
