|
Far West Insurance Co. In Liquidation Amwest Surety Insurance
Co. In Liquidation 5230
Las Virgenes Road Calabasas,
California 91302 |
TO: All persons Defendants who may be at large on bailimmigration
bonds written through bail bonding
agencies such as All Hawaii Bail
Bonds, Allwest Bail Bonds, Allwest General Bail
Bond Agency, Nancy Cladis Bail Bonds, Pioneer Bail Bonds, Liberty Bonding Company, Victory Bonding
Company, and underwritten by Amwest Surety Insurance Company, a
Nebraska Insurer or Far West Insurance Company, a Nebraska Insurer and to all
Courts who may have these bonds on file
_____________________________________________________________________________________
Please
be advised that Far West Insurance Company (“Far West”) became the subject of
an Order of Liquidation, Declaration of Insolvency, and Injunction
entered by the District Court of Lancaster County, Nebraska on Friday, November
9, 2001 under case number CI 01-4133 (“Order”). The Court found that Far West is insolvent and appointed L. Tim
Wagner, Director of Insurance of the State of Nebraska, as liquidator of Far
West to liquidate the business of Far West (the “Liquidator”). The liquidation
will be administered at the offices of Far West by a Special Deputy Liquidator.
Cancellation
Extinguishment
of All Policies, including BailImmigration
Bonds and Other Non-Cancellable Business
By issuance of the Order and
pursuant to the terms of Neb. Rev. Stat. 44-4819, all bailimmigration
bonds shall continue in force until the earliest of:
(1) Sunday, December 9, 2001 at 11:59 P.M. CST;
(2)
The cancellation exoneration
of the bailimmigration
bond;
(3)
The date the bailimmigration
bond has been replaced.
Concerning
outstanding bail bonds issued by Amwest Surety Insurance Company
(“Amwest”), those bonds were previously reinsured by Far West and became
obligations of Far West under the terms of that Reinsurance Agreement. You are hereby notified that
the obligations and liability of Amwest and Far West are terminated by this
notice of extinguishment cancellation
of all immigration
those bonds effective December 9,
2001.
In short, all Far West and
Amwest bailimmigration
bonds will be extinguished cancelled
no later than 11:59 P.M. CST, December 9, 2001. Note that this date may not be
extended. It is established as a matter
of law.
As
a result, we urge all affected persons the
defendants to
immediately obtain replacement bailimmigration
bonds or secure your uninterrupted release by other means. The Liquidator cannot assist you in
replacing extinguished cancelled
bailimmigration
bonds. However, if you do pay the
premium for a replacement bond, you may file a proof of claim with the
Liquidator for premium attributable to replacement of such bond. This claim must be filed in accordance with
the Proof of Claim process described below.
At this time, the Liquidator cannot make any representation as to an
amount, if any, that will ultimately be approved or paid on this or any other
type of claim.
The
Liquidator will implement a claim process and adopt a Proof of Claim form
(POC). All persons reasonably expected
to present claims will be provided a POC. Claims will be subject to
adjudication by the Liquidator. The POC
bar date for Far West (last day for filing a timely POC) is September 30, 2002.
All communications should be directed to the Court Division at the address set
forth below. You may wish to contact
your state insurance guaranty association to determine whether bailimmigration
bond judgments are considered a covered claim by your guaranty association.
Any inquiries may be directed to either your bailimmigration
bond agent or the Court Division at 5230 Las Virgenes Road, Calabasas,
California 91302. You may call us toll
free at (800) 423-2245 or call direct at (818) 871-3400. Additionally, Far West Insurance Company’s
web site (www.FarWestBonds.com) is a source for news and will be updated
periodically regarding the ongoing liquidation.
g:/NC1088/Amwest
Farwest Bail Notice 111901