The Thunor Trust Companies
Tennessee Liquidation in the Thunor Case Closes
The Tennessee court has brought to a close the liquidation of Franklin American Life Insurance Company, one of the seven companies in five states that went into receivership in 1999 after the Martin Frankel scandal was uncovered. Policyholders in all the estates were taken care of early on by the guaranty system, but the receivers pursued asset recovery to make up a major part of the over $100 million stolen by Frankel. With the closing of the Tennessee receivership--and the earlier close of the Missouri receivership--the primary remaining matters are in Mississippi, where that liquidator is finishing up the affairs of the three Mississippi companies.
Task Force Chair - John Colpean; Staff Contact -Boles Elected IAIR President
Bart Boles, Executive Director of the Texas Life & Health Insurance Guaranty Association and a member of the NOLHGA and International Association of Insurance Receivers (IAIR) Boards of Directors, has been elected President of IAIR for 2014. He encourages all life and health guaranty association administrators to consider joining IAIR to take advantage of the significant educational and networking opportunities IAIR provides to receivers, guaranty associations, and other insurance professionals. If you have questions about IAIR or its activities, please contact Bart at [email protected].
Staff Contact - Sean McKennaIAIR 2014 Insolvency Workshop Scheduled for January
The International Association of Insurance Receivers (IAIR) will hold its 2014 Insolvency Workshop on January 29–31, 2014, at the Tempe Mission Palms in Tempe, Arizona. The workshop is themed, “Shortening the Receivership Road Trip” and will address the challenges facing receivers, guaranty associations, and other insolvency professionals in expediting the closing of estates when facing procedural and legal elements that contribute to the delay in closing. The room block cutoff at the Tempe Mission Palms is January 8, 2014. A detailed agenda and registration materials may be viewed on the home page of the IAIR Web site, or you may contact Bart Boles at [email protected] if you have any questions.
Staff Contact - Sean McKenna