(A) Whenever the superintendent of insurance believes rehabilitation of an insurer would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile, the superintendent may file a motion in the court of common pleas for an order of liquidation. A motion under this division has the same effect as a complaint under section 3903.17 of the Revised Code. The court shall permit the directors of the insurer to take such actions as are reasonably necessary to defend against the motion and may order payment from the estate of the insurer of such costs and other expenses of defense as justice may require.
(B) The court may at any time, upon motion of the rehabilitator, enter an order terminating rehabilitation of an insurer. The court may also, upon motion of the directors of the insurer, enter an order terminating rehabilitation of the insurer and may order payment from the estate of the insurer of such costs and other expenses of such motion as justice may require. If the court finds that rehabilitation has been accomplished and that grounds for rehabilitation under section 3903.12 of the Revised Code no longer exist, it shall order that the insurer be restored to possession of its property and the control of its business. The court may also make such a finding and issue such an order at any time upon its own motion.
Taylor v. Ernst & Young, L.L.P., 2011 Ohio 5262 (Ohio 2011). · cites it 2דThird, R.C. 3903.16(A) and 3903.17 grant the superintendent the power, with the court’s permission, to liquidate an insurer if, for example, it is insolvent.”
Gerig v. Kahn, 95 Ohio St. 3d 478 (Ohio 2002). “was found to be insolvent, and on March 23, 1998, it was ordered into liquidation pursuant to R.C. 3903.16. The liquidation order prompted appellant Ohio Insurance Guaranty Association (“OIGA”) to get involved in the Gerigs’ malpractice lawsuit.”
Gerig v. Kahn, 2002 Ohio 2581 (Ohio 2002). “was found to be insolvent, and on March 23, 1998, it was ordered into liquidation pursuant to R.C. 3903.16. The liquidation order prompted appellant Ohio Insurance Guaranty Association (“OIGA”) to get involved in the Gerigs’ malpractice lawsuit.”
Anderson v. Ohio Dep't of Ins., 569 N.E.2d 1042 (Ohio 1991). “59 of the Revised Code is the protection of the interests of insureds, claimants, creditors, and the public generally * * Pursuant to R.C. 3903.16(A), the department may file a motion for liquidation whenever the Superintendent of Insurance “* * * believes rehabilitation of an…”
Benjamin v. Ernst & Young, L.L.P., 855 N.E.2d 128 (Ohio Ct. App. 2006). “” R.C. 3903.16(A). {¶ 13} A liquidation order appoints the superintendent as liquidator of the insolvent insurer and directs the liquidator to take possession of the insurer’s assets.”
Fabe v. Prompt Fin., Inc., 631 N.E.2d 614 (Ohio 1994). “However, if the Superintendent determines that rehabilitation of an insurer “would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile,” the Superintendent may file a motion with the trial court for an order of liquidation.”
Fabe v. Aneco Reinsurance Underwriting Ltd., 784 F. Supp. 448 (S.D. Ohio 1991). · cites it 2דBACKGROUND On August 31, 1990 and acting pursuant to O.R.C. § 3903.16, the Court of Common Pleas for Franklin County, Ohio, ordered OGICO placed in liquidation and named plaintiff George Fabe as the liquidator.”
Benjamin v. Sawicz, 823 N.E.2d 879 (Ohio Ct. App. 2004). “” R.C. 3903.16. The powers of the liquidator are set forth under R.”
State ex rel. Watkins v. Eighth Dist. Court of Appeals, 1998 Ohio 190 (Ohio 1998). “A few weeks after relators filed their complaint for extraordinary relief, the Franklin County Common Pleas Court ordered PIE’s 2 January Term, 1998 liquidation under R.C. 3903.16. In its liquidation order, the common pleas court ruled that “[a]ll proceedings in which PIE is a…”
McManamon v. Ohio Dep't of Ins., 903 N.E.2d 714 (Ohio Ct. App. 2008). · cites it 2דSee R.C. 3903.16 and 3903.17. R.C. 3903.17 sets forth three grounds on which ODI may seek a liquidation order: (1) upon any of the grounds for rehabilitation specified in R.”
Fabe v. Prompt Fin., Inc., 1994 Ohio 323 (Ohio 1994). “However, if the Superintendent determines that rehabilitation of an insurer "would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile," the Superintendent may file a motion with the trial court for an order of liquidation.”
— Ohio Rev. Code § 3903.16(A) — 6 cases
Taylor v. Ernst & Young, L.L.P., 2011 Ohio 5262 (Ohio 2011). “Third, R.C. 3903.16(A) and 3903.17 grant the superintendent the power, with the court’s permission, to liquidate an insurer if, for example, it is insolvent.”
Anderson v. Ohio Dep't of Ins., 569 N.E.2d 1042 (Ohio 1991). “59 of the Revised Code is the protection of the interests of insureds, claimants, creditors, and the public generally * * Pursuant to R.C. 3903.16(A), the department may file a motion for liquidation whenever the Superintendent of Insurance “* * * believes rehabilitation of an…”
Benjamin v. Ernst & Young, L.L.P., 855 N.E.2d 128 (Ohio Ct. App. 2006). “” R.C. 3903.16(A). {¶ 13} A liquidation order appoints the superintendent as liquidator of the insolvent insurer and directs the liquidator to take possession of the insurer’s assets.”
Fabe v. Prompt Fin., Inc., 631 N.E.2d 614 (Ohio 1994). “However, if the Superintendent determines that rehabilitation of an insurer “would substantially increase the risk of loss to creditors, policyholders, or the public, or would be futile,” the Superintendent may file a motion with the trial court for an order of liquidation.”
McManamon v. Ohio Dep't of Ins., 903 N.E.2d 714 (Ohio Ct. App. 2008). “See R.C. 3903.16 and 3903.17. R.C. 3903.17 sets forth three grounds on which ODI may seek a liquidation order: (1) upon any of the grounds for rehabilitation specified in R.”
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