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Case Number: 00 CVH03-2431*
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| Judge: |
Honorable Charles A. Schneider
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Franklin County, Ohio, Court of Common Pleas
Civil Division
369 South High Street
Columbus, OH 43215
(614) 525-3621
Court Web Site
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November 21, 2011
IMPORTANT UPDATE
The Court issued its order granting the Liquidator's Motion for Approval of the Liquidator's Calculation and Payment of the Third Early Access Payments
to the Guaranty Associations and the Liquidator's First Final Report of Non-Guaranty Association Class 2 Policyholder Level Claims and First Interim Distribution to Non-Guaranty Association Class 2 Claimants. The Liquidator plans to mail distribution checks
on or before November 23, 2011.
The Liquidator will not be paying any claims filed in Classes 4 through 9 as there are insufficient funds available in the LMI liquidation estate to pay any of these claims.
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October 31, 2011
The Liquidator has filed her Motion for Approval of the Liquidator's Calculation and Payment of the Third Early Access Payments to the Guaranty Associations and the Liquidator's
First Final Report of Non-Guaranty Association Class 2 Policyholder level Claims and First Interim Distribution to Non-Guaranty Association Class 2 Claimants. Please click this link
to the Searchable PDF of the Liquidator's First Final Report of Non-Guaranty Association Class 2 Claims at Exhibit C. The Liquidator plans to make a First Interim Distribution to Non-Guaranty Association Class 2 Claimants whose claims are identified
in Exhibit C to the Motion in an amount equal to twenty-four (24% percent of each of the allowed Class 2 claims.
NOTE: The Liquidator redacted (removed) the claimants' names and addresses on the Report in response to claimants' requests that we protect their contact information. Therefore, to locate your claim in the Searchable PDF of the Liquidator's Final Report of
Claims, you must have your Proof of Claim number, which is an 8-digit number, to search the Report. On the Report, you will see the Liq# located in the left hand column. If you do not have your Proof of Claim (Liquidator) number, please call our office
at 614-487-9200 during business hours (Monday through Friday, 8 a.m. until 5 p.m. Eastern Time) to request this information.
Please click this link to the Report on Status of Liquidation filed on October 31, 2011
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GOOD FAITH ESTIMATE
June 9, 2011
Ohio Revised Code 3903.42 sets forth the priorities and order of distribution of claims. Based upon our best good faith estimates and barring any unforeseen circumstances, the Liquidator presently estimates in good faith that she will pay 100%
of allowed claims in Class 1 and that, based on information currently available, she will pay a pro-rata amount of allowed Class 2 claims. At this particular time, the Liquidator does not expect to make any distributions to claimants in classes
3 through 9. These good faith estimates are expected to change prior to the actual distributions and closing of the LMI estate. The actual pro-rata distributions will be reflected in the Liquidator's Motion for Order Approving Final Report of Claims
to be filed at or near the time of the distribution of assests of the LMI estate. As of and effective June 9, 2011, the Liquidator is working toward filing a motion for authority to make a First Interim Distribution to allowed Class 2 claimants in
2011, which will pay a portion of their allowed Class 2 claims. The Liquidator further estimates in good faith that the Estate will remain open until approximately 2015, and that a final distribution to Class 2 claimants will occur in or
after 2015.
As soon as deemed appropriate, further information regarding the distributions will be posted on our web site here and in court filed documents that can be viewed by clicking
on the Documents tab above. These good faith estimates are based upon information available and the circumstances known at the time that they were made. Before relying on these estimates in making any decisions, be aware that the underlying facts and
circumstances upon which they are based are subject to change.
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** NOTICE **
REGARDING ABSOLUTE AND FINAL BAR DATE FOR CLAIMS
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Important Notice to Policyholders and Claimants of LMI Insurance Company - June 30, 2009 Absolute and Final Bar Date
On December 2, 2008, the Franklin County Court of Common Pleas, among other things (1) ordered the Liquidator to establish June 30, 2009 as the Absolute and Final Bar Date in
the LMI Insurance Company liquidation proceedings; (2) approved the Liquidator's determination not to accept any late-filed claims or requests for proof of claim forms
after the Final Bar Date; (3) ordered that all Unspecified Claims and Future are foreclosed after the Final Bar Date; and (4) authorized the Liquidator to reject any attempted filing
of a claim or requests for POC forms after the Final Bar Date.
To view the full Order, please click this link to 12/02/2008 JOURNAL ENTRY AND ORDER APPROVING LIQUIDATOR'S MOTION FOR ORDER ESTABLISHING JUNE 30, 2009 AS THE
ABSOLUTE AND FINAL BAR DATE, ETC., or locate the Order on the "Documents" tab.
To view the Liquidator's Motion concerning the Final Bar Date, please click this link to 12/02/2008 LIQUIDATOR'S MOTION FOR ORDER ESTABLISHING JUNE 30, 2009 AS THE
ABSOLUTE AND FINAL BAR DATE, ETC., or locate the Order on the "Documents" tab.
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This is the case number (00 CVH03-2431) that was assigned to this
Liquidation. This case number can be used when researching information
through the courts pertaining to this Liquidation.
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