status of insolvencies as at March 31, 2007
ADVOCATE GENERAL
CLOSED FILES: 3,799 (sub files)
PAID CLAIMS: $44,037,846
O/S FILES: 0
O/S RESERVES: 0
REMARKS:
Final dividend
received. We have made a full
recovery.
ONTARIO
GENERAL
CLOSED FILES: 35
PAID CLAIMS: $594,210
O/S FILES: 0
O/S RESERVES: 0
REMARKS:
The liquidator is considering asking the court
For direction on how to dispense the small funds remaining in the estate.
AMERICAN
MUTUAL
CLOSED FILES: 2
PAID CLAIMS: $66,475
O/S FILES: 0
O/S RESERVES: 0
REMARKS:
This liquidation is now wound up and we
received 100% recovery of all amounts paid.
CANADIAN
UNIVERSAL
CLOSED FILES: 9
PAID CLAIMS: $527,085
O/S FILES: 0
O/S RESERVES: 0
REMARKS: None
BEOTHIC GENERAL
CLOSED FILES: 47
PAID CLAIMS: $2,309,511
O/S FILES: 0
O/S RESERVES: 0
REMARKS:
Only outstanding matter is filing of corporate tax returns and obtaining appropriate release from Canada Revenue Agency.
HILAND
INSURANCE
CLOSED FILES: 624
PAID CLAIMS: $6,601,333
O/S FILES: 0
O/S RESERVES: 0
REMARKS:
Paid claims includes $387,033 paid on claims where coverage was disputed
between hiland and lloyds. We have commenced legal proceedings against
lloyds to recover these funds.
MAPLEX
GENERAL
CLOSED FILES: 2569
PAID CLAIMS: $23,649,237
O/S FILES: 1
O/S RESERVES: $120,000
REMARKS:
We
Have Received A 55% Dividend.
GISCO
CLOSED FILES: 650
PAID CLAIMS: $4,162,198
O/S FILES: 8
O/S RESERVES: $454,750 (INCLUDES $300,000 FOR LEGAL AND ADJUSTING EXPENSES)
REMARKS:
A dividend of $1,457,704 was received in April 2007.
RELIANCE
INSURANCE CANADA
CLOSED FILES: 144
PAID CLAIMS: $23,560,085
O/S FILES: 182
O/S RESERVES: $15,190,531
REMARKS:
No assessment has been made on members. All payments have been made by the liquidator using monies from the estate.
CANADIAN MILLER'S MUTUAL
CLOSED FILES: 187
PAID CLAIMS: $4,507,603
O/S FILES: 6
O/S RESERVE: $630,288
REMARKS:
One of the 6 O/S claims has settled in 2007 with no additional PACICC payment.
MARKHAM GENERAL
CLOSED FILES:
2182
PAID CLAIMS: $15,986,417
O/S FILES: 91
O/S RESERVES: $5,892,500 (does not include eligible expenses recoverabe by the estate which now total $1,400,000)
REMARKS: Incurred claims total was stable again in part by removal of 1 claim O/S at $250,000 as PACICC eligible.
HOME INSURANCE CANADA
At this
point, no assessment has been made on members and all payments have been
made by the liquidator. The court has now approved the transfer of all
policies and claims to lombard insurance company. Once the liquidator
is discharged our duties as inspector will cease and we expect no need
to assess our members.
J. Connor
Claims
Manager
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