OSD Mission Statement
Our mission is to achieve consumer protection through receivership resolution expertise and the execution of a resolution strategy appropriate to the unique circumstances of each troubled company estate, including maximization of asset recovery, fair disposition of claims, and timely delivery of assets to creditors.
OSD Latest News
Land of Lincoln Mutual Health Insurance Company (LLH) On December 21, 2020, the Supervising Court approved a 100% dividend to be distributed on all timely-filed claims that have been allowed by order of the Supervising Court for purposes of participating in any distributions made at level (d) of Illinoisí statutory distribution schedule (i.e., policyholder claims). This will result in the Liquidator distributing $53,679,345.83 in Estate assets to policyholder level creditors.
Family Health Network, Inc. (FHN) On November 30, 2020, the Supervising Court entered an order approving the Rehabilitatorís application for authority to issue a 100% dividend on the 94 timely filed proofs of claim allowed at priority level (d) (policyholder level claims) of Illinoisí statutory schedule of distribution. Payment of the dividend will result in the distribution of $1,539,560.82 in Estate assets. It will leave approximately $3.2 million in unencumbered assets in the Estate to distribute on lower priority level claims allowed in the proceedings and to pay the continuing costs of administration.
Family Health Network, Inc. (FHN) On November 30, 2020, the Supervising Court approved a 100% dividend distribution on timely-filed and allowed claims at the policyholder priority level (d), of the Illinois statutory distribution scheme, in the amount of $1,539,560.82.
American Country Insurance Company (ACIC), American Service Insurance Company (ASIC), and Gateway Insurance Company (GIC) On September 10, 2020, the Supervising Court entered an order providing for the filing of proofs of claims in the American Service Insurance Company and American Country Insurance Companyís receivership estates and establishing a claim filing deadline of December 10, 2021 at 4:30 p.m. C.D.T. The court also set a deadline of June 10, 2022 at 4:30 p.m. C.D.T. as the last day that any insuredís timely filed contingent claim may be liquidated by presenting proof of payment to the Liquidator. A copy of the courtís claim procedure order can be found here.