Judge: Teresa A. Beaudet, Case: C572724, Date: 2022-10-03 Tentative Ruling

Case Number: C572724    Hearing Date: October 3, 2022    Dept: 50

Superior Court of California

County of Los Angeles

Department 50

Ricardo Lara, Insurance Commissioner of the State of California, in his capacity as Trustee of the Mission Insurance Company Trust, the Mission National Insurance Company Trust, and the Enterprise Insurance Company Trust moves to extend the Mission Insurance Company Trust, the Mission National Insurance Company Trust, and the Enterprise Insurance Company Trust (collectively, the “Trusts”) through December 31, 2024. No opposition to the motion has been filed.

The Trusts exist to hold assets of three failed insurance companies. The Trusts have collected assets and made distributions to pay approved policyholder claims against each company’s trust. The Trusts remain open to collect assets and make distributions; and have substantial receivables from other companies in receiverships, which receivables are expected to generate substantial further recoveries. (Pearce Decl., ¶ 5.) This Court previously extended the life of the Trusts through December 31, 2022. (Pearce Decl. ¶ 6.) The evidence reflects that the Trusts will need to stay open longer in order to collect additional assets on behalf of the Trusts. (Pearce Decl. ¶¶ 7-8.) 

Based on the foregoing, the motion is granted. The Trusts’ formal existence is extended until December 31, 2024. The Court requests that future filings carry the original caption for this case because that is how it is identified in the docket.

DATED:  October 3, 2022                             ________________________________

Hon. Teresa A. Beaudet

Judge, Los Angeles Superior Court