Final Day for Legal Seminar Registration & Hotel Reservations

The deadline for registration and hotel reservations for NOLHGA's 16th Annual Legal Seminar is today, June 20. After today, NOLHGA cannot guarantee room availability or the NOLHGA rate of $219/night plus tax. Attendees can book their rooms online by going to the meeting Web page and clicking on the "Fairmont Copley Plaza" link, which includes hotel information and a link to the NOLHGA reservations page. The meeting page also offers online registration for the Legal Seminar and July 16 MPC meeting as well as additional information on both meetings.

The 2008 Legal Seminar is scheduled for July 17 and 18 in Boston. The Welcome Reception will be held the evening of July 16 at the John F. Kennedy Presidential Library and Museum.

  Staff Contact -

July MPC Meeting Schedule Posted

A preliminary schedule for the July 16 MPC meeting, which will be held at the Fairmont Copley Plaza in Boston, has been posted on the meeting Web page. Users may need to log in after clicking on the link to access the file, which can be found in the "Meeting Resources" section.

The schedule is in PDF format, and users will need Adobe Acrobat Reader to view and print the materials. Acrobat Reader is available free from Adobe.

If you have any trouble accessing the meeting Web page or preliminary schedule, please contact Dan Hicks at [email protected] or 703.787.4112. If you have any questions about the MPC meeting, contact Sean McKenna at [email protected] or 703.787.4106.

  Staff Contact - Sean McKenna

Presentation on ELIC Defeasance at July MPC Meeting

In follow-up to the Updated ELIC Defeasance Report that was distributed in early May, there will be a panel discussion on defeasance during the Boston MPC meeting on the afternoon of July 16. ELIC participating guaranty association administrators and board members are encouraged to attend.

The participants on the panel will include Art Dummer (Utah), who will serve as moderator, and the following guaranty association administrators representing states affected by Executive Life: Jack Falkenbach (Delaware), Chuck Gullickson (South Dakota), Joe Horvath (Pennsylvania), and Chuck Renn (Missouri). The purpose of the presentation is to provide participating guaranty associations with the opportunity to obtain practical information and gain insights into the key considerations relevant to making a decision about defeasance. The planned format of the presentation is an interactive discussion among the panelists of the important factual, financial, and other considerations relating to defeasance. Audience participation in the form of questions, comments, and the sharing of perspectives will be encouraged.

  Staff Contact - Bill O'Sullivan Midwest Life Insurance Company (Louisiana)

Receiver Files Closing Plan

During the week of June 15, 2008, the receiver for Midwest Life filed a plan for final distribution and closing of the Midwest Life estate. Among other things, the plan seeks court approval of a settlement reached between the receiver and the guaranty associations involved in the Dain litigation. It also seeks court approval of proposed final distributions and authorization to proceed with closing the estate. The plan contemplates a final cash distribution of approximately $8.7 million, of which about $5.7 million would be allocated to the affected associations. Hearing on the receiver's plan is scheduled for June 24.

Task Force Chair - Luther Hill;   Staff Contact - Bill O'Sullivan