Source: http://www.caclo.org/perl/index.pl?document_id=95b93f2080d4cd7ec00318174e684bcb
Timestamp: 2018-12-14 15:16:05
Document Index: 798457255

Matched Legal Cases: ['art 1', 'art 2', '§ 1011', '§ 1011', '§ 1011', '§ 1011', '§ 1037', '§ 1037', '§ 1037', '§ 1037', '§ 1010', '§ 1037', '§ 1011', '§ 1037', '§ 1011', '§ 1035', '§ 1035', '§ 1035', '§ 1037', '§ 1037', '§ 1037', '§ 1011', '§ 1011', '§ 1020', '§ 1020', '§ 1020', '§ 1011', '§ 1037', '§ 1020', '§ 1020', '§ 1020', '§ 1020', '§ 1020']

Conservation Date: 09/30/2009
Liquidation Date: 01/28/2011
POC Final Filing Date: 12/31/2013
Closure Date: 10/17/2016
2016 - 6 documents
10/17/2016 - Declaration of Compliance with Court's Order Terminating Liquidation
07/07/2016 - Order Approving Liquidator's Determinations to Professionally Shred and Destroy Golden State's Remaining Records and Files
06/01/2016 - Memorandum of Points and Authorities in Support of Liquidator's Application for Orders Approving Determinations to Professionally Shred and Destroy Golden State's Remaining Records and Files
06/01/2016 - Notice of Application and Application for Orders Approving Determinations to Professionally Shred and Destroy Golden State's Remaining Records and Files
06/01/2016 - Proof of Service for Notice of Application and Application for Orders Approving Determinations to Professionally Shred and Destroy Golden State's Remaining Records and Files
06/01/2016 - Proposed Order Approving Liquidator's Determinations to Professionally Shred and Destroy Golden State's Remaining Records and Files
2015 - 30 documents
12/30/2015 - Order Terminating Liquidation
10/16/2015 - Notice of Application for Orders Terminating Liquidation
10/16/2015 - Proposed Order Approving Orders Terminating Liquidation
10/16/2015 - Memorandum in Support of Application for Orders Terminating Liquidation
10/16/2015 - Declarations and Exhibits Supporting Application
10/16/2015 - Proof of Service of Notice of Application for Orders Terminating Liquidation
08/07/2015 - Response by County of Los Angeles in Support of Application for Order Authorizing Liquidator to Sell Art Collection
07/24/2015 - Memorandum of Points and Authorities in Support of Application for Order Authorizing Liquidator to Sell Art Collection
07/24/2015 - Memorandum of Points and Authorities in Support of Fourth Application for Order Authorizing Liquidator to Sell Real Property
07/24/2015 - Notice of Application and Application for Order Authorizing Liquidator to Sell Art Collection
07/24/2015 - Notice of Fourth Application and Application for Order Authorizing Liquidator to Sell Real Property
07/24/2015 - Proof of Service for Notice of Application and Application for Order Authorizing Liquidator to Sell Art Collection
07/24/2015 - Proof of Service for Notice of Fourth Application and Application for Order Authorizing Liquidator to Sell Real Property
07/24/2015 - Proposed Order Authorizing Liquidator to Sell Art Collection
07/24/2015 - Proposed Order Authorizing Liquidator to Sell Real Property
03/25/2015 - Order Granting Liquidator's Application to Approve Liquidation Expenses
03/25/2015 - Order Granting Liquidator's Application to Sell Chicago Real Property
02/19/2015 - Notice of Application Authorizing Liquidator to Not Handle Claims Process
02/19/2015 - Proposed Order Authorizing Liquidator to Not Handle Claims Process
02/19/2015 - Memorandum Supporting Application Authorizing Liquidator to Not Handle Claims Process
02/19/2015 - Proof of Service for Notice of Application Authorizing Liquidator to Not Handle Claims Process
02/19/2015 - Notice of Application to Approve Liquidation Expenses
02/19/2015 - Proposed Order Granting Application to Approve Liquidation Expenses
02/19/2015 - Memorandum Supporting Application to Approve Liquidation Expenses
02/19/2015 - Declarations and Exhibits Supporting Application to Approve Liquidation Expenses
02/19/2015 - Proof of Service for Notice of Application to Approve Liquidation Expenses
02/19/2015 - Notice of Application to Sell Chicago Real Property
02/19/2015 - Proposed Order Authorizing Sale of Chicago Real Property
02/19/2015 - Memorandum Supporting Application to Sell Chicago Real Property
02/19/2015 - Proof of Service for Notice of Application to Sell Chicago Real Property
2014 - 9 documents
04/18/2014 - Order Granting Commissioner's Application to Sell Vallejo Real Property
04/09/2014 - Memorandum in Support of Application to Sell Chicago Real Property
04/09/2014 - Notice of Application to Sell Chicago Real Property
04/09/2014 - Proposed Order Re Application to Sell Chicago Real Property
02/10/2014 - Order Granting Commissioner's Second Application to Approve Conservation and Liquidation Expenses
01/07/2014 - Memorandum in Support of Application to Sell Vallejo Real Property
01/07/2014 - Notice of Application to Sell Vallejo Real Property
01/07/2014 - Proposed Order Re Application to Sell Vallejo Real Property
2013 - 11 documents
12/06/2013 - Order Granting Commissioner's Application to Approve Settlement Agreement Regarding Mural Ownership Lawsuit
12/06/2013 - Order Granting Liquidator's Application for Third Order Continuing Claims Bar Date to December 31, 2014
10/29/2013 - Memorandum in Support of Second Application to Approve Conservation and Liquidation Expenses
10/29/2013 - Notice of Revised Application to Approve Conservation and Liquidation Expenses
10/28/2013 - Memorandum in Support of Application to Approve Settlement Agreement Regarding Mural Ownership Lawsuit; Declaration of Scott Pearce and Michael R. Weiss
10/28/2013 - Memorandum in Support of Revised Application to Approve Conservation and Liquidation Expenses
10/28/2013 - Memorandum of Points and Authorities in Support of Application for Third Order Continuing Claims Bar Date: Continuance Requested to December 31, 2014; and Declaration of Scott Pearce and Michael R. Weiss
10/28/2013 - Notice of Application for Third Order Continuing Claims Bar Date: Continuance Requested to December 31, 2014
10/28/2013 - Notice of Application to Approve Settlement Agreement Regarding Mural Ownership Lawsuit
10/28/2013 - Notice of Second Application to Approve Conservation and Liquidation Expenses
2012 - 24 documents
11/19/2012 - Notice of Revised Application to Approve Conservation and Liquidation Expenses
11/19/2012 - Proposed Order Granting Liquidator's Revised Application to Approve Conservation and Liquidation Expenses
11/19/2012 - Revised Application to Approve Conservation and Liquidation Expenses
09/05/2012 - Order Granting Liquidator's Application for Order Authorizing Sale of Winston-Salem Building
07/30/2012 - Notice of Entry of Minute Order Granting Application for Second Order Continuing Claims Bar Date to December 31, 2013
07/24/2012 - Application for Order Authorizing Sale of Winston-Salem Building
07/24/2012 - Notice of Application for Order Authorizing Sale of Winston-Salem Building
07/24/2012 - Proposed Order Authorizing Sale of Winston-Salem Building
05/25/2012 - Memorandum of Points and Authorities in Support of Application for Second Order Continuing Claims Bar Date - Continuance Requested to December 31, 2013
05/25/2012 - Notice of Application for Second Order Continuing Claims Bar Date - Continuance Requested to December 31, 2013
05/25/2012 - Proposed Order Granting Liquidator's Application for Second Order Continuing Claims Bar Date to December 31, 2013
04/27/2012 - Memorandum of Points and Authorities in Support of Joint Application for Orders Approving Claim Handling Agreements, Rate Tables and Issuance of Alternative Policies
04/27/2012 - Notice of Joint Application for Orders Approving Claim Handling Agreements, Rate Tables and Issuance of Alternative Policies
04/27/2012 - Proposed Order Granting Joint Application for Orders Approving Claim Handling Agreements, Rate Tables and Issuance of Alternative Policies
04/16/2012 - Application to Approve Conservation and Liquidation Expenses
04/16/2012 - Notice of Application to Approve Conservation and Liquidation Expenses
04/16/2012 - Proposed Order Granting Liquidator's Application to Approve Conservation and Liquidation Expenses
04/06/2012 - Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 4801 Almeda Road in Houston Texas
03/01/2012 - Memorandum of Points and Authorities in Support of Application for Order Authorizing Liquidator to Sell Real Property Located at 4801 Almeda Road in Houston Texas
03/01/2012 - Notice of Application for Order Authorizing Liquidator to Sell Real Property Located at 4801 Almeda Road in Houston Texas
03/01/2012 - Proposed Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 4801 Almeda Road in Houston Texas
01/24/2012 - Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 19115 W 8 Mile Road in Detroit Michigan
01/04/2012 - Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 4570 Village Fair Dallas Texas
2011 - 39 documents
12/16/2011 - Application for Order Authorizing Sale of Detroit Building
12/16/2011 - Notice of Application for Order Authorizing Sale of Detroit Building
12/16/2011 - Proposed Order Authorizing Sale of Detroit Building
11/30/2011 - Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 8237-8247 S. State Street in Chicago Illinois
11/18/2011 - Memorandum of Points and Authorities in Support of Application for Order Authorizing Liquidator to Sell Real Property Located at 4575 Village Fair Drive in Dallas Texas
11/18/2011 - Notice of Application for Order Authorizing Liquidator to Sell Real Property Located at 4575 Village Fair Drive in Dallas Texas
11/18/2011 - Proposed Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 4575 Village Fair Drive in Dallas Texas
10/21/2011 - Proposed Order Granting Liquidator's Application for Order Authorizing Liquidator to Sell Real Property Located at 8237-8247 S. State Street in Chicago Illinois
10/20/2011 - Notice of Application for Order Authorizing Liquidator to Sell Real Property Located at 8237-8247 S. State Street in Chicago Illinois
10/20/2011 - Memorandum of Points and Authorities in Support of Application for Order Authorizing Liquidator to Sell Real Property Located at 8237-8247 S. State Street in Chicago Illinois and Declarations of Scott Pearce, Peter C. Kane and Michael R. Weiss
10/17/2011 - Notice of Entry of Minute Order Granting Application for Order Continuing Claims Bar Date to December 31, 2012
08/23/2011 - Notice of Application to Continue Claims Bar Date
08/23/2011 - Memo re Application to Continue Claims Bar Date
08/23/2011 - Proposed Order re Application to Continue Claims Bar Date
04/12/2011 - Notice of Application for Orders Authorizing Liquidator to Sign and Enter Agreement with Pension Benefit Guaranty Corporation to Terminate Golden State's Retirement Plan and Appoint Trustee
04/12/2011 - Memorandum of Points and Authorities in Support of Application for Orders Authorizing Liquidator to Sign and Enter Agreement with Pension Benefit Guaranty Corporation to Terminate Golden State's Retirement Plan and Appoint Trustee
04/12/2011 - Proposed Order Granting Application for Orders Authorizing Liquidator to Sign and Enter Agreement with Pension Benefit Guaranty Corporation to Terminate Golden State's Retirement Plan and Appoint Trustee
03/30/2011 - Order Granting the Liquidator's Application for Orders Authorizing Liquidator to Enter Archival Materials Agreement and Transfer to UCLA Library
03/28/2011 - Order Granting City of Los Angeles' Motion for Clarification of Court's January 28, 2001 Order
03/21/2011 - Combined Reply Memorandum in Support of Applications Nos. 1, 2 and 3 for Orders Re Murals, Art and GSM Archival Collection
02/22/2011 - 1.1 GSM Murals Sale Notice
02/22/2011 - 1.2 GSM Murals Sale Memorandum
02/22/2011 - 1.3 GSM Murals Sale Evidence Part 1
02/22/2011 - 1.4 GSM Murals Sale Evidence Part 2
02/22/2011 - 1.5 Ex 21 GSM Murals 1949 Film
02/22/2011 - 1.6 GSM Murals Sale Proposed Order
02/22/2011 - 2.1 GSM Artworks Sale Notice
02/22/2011 - 2.2 GSM Artworks Sale Memorandum
02/22/2011 - 2.3 GSM Artwork Sale Evidence
02/22/2011 - 2.4 GSM Artworks Sale Proposed Order
02/22/2011 - 3.1 GSM Historical Materials Notice
02/22/2011 - 3.2 GSM Historical Materials Memorandum
02/22/2011 - 3.3 GSM Historical Materials Evidence
02/22/2011 - 3.4 GSM Historical Materials Proposed Order
02/08/2011 - Golden State Mutual Update
01/28/2011 - Liquidation Order
01/21/2011 - Reply Memorandum in Support of Liquidation Motion
01/03/2011 - Conservator's Status Report
2010 - 38 documents
12/20/2010 - Golden State Mutual Life Insurance Company Liquidation Motion
12/20/2010 - 1. Notice of OSC and Motion
12/20/2010 - 2. Memorandum
12/20/2010 - 3. Proposed Order
12/20/2010 - 4. Declaration of David E. Wilson
12/20/2010 - 5. Declaration of Michael R. Weiss
12/20/2010 - 6. Exhibit 1 GSM Conservation Order Dated 09-30-09
12/20/2010 - 7. Exhibit 2 Order Approving Plan
12/20/2010 - 8. Exhibit 3 GSM-IA Assumption Reinsurance Agreement
12/20/2010 - 9. Exhibit 4 GSM Balance Sheet
12/20/2010 - 10. Exhibit 5 Service List
08/10/2010 - Request for Proposal Deadline Extended to August 31, 2010
06/25/2010 - Art Collection Request For Proposal
06/24/2010 - Order Approving Rehabilitation Plan
05/20/2010 - Golden State Mutual Life Insurance Company Rehabilitation Plan
05/20/2010 - Frequently Asked Questions and Answers
05/20/2010 - 1. Conservator's Application Approving Rehabilitation Plan
05/20/2010 - 2. Proposed Order Approving Rehabilitation Plan
05/20/2010 - 3. Declaration of David E. Wilson
05/20/2010 - 4. Declaration of Joseph B. Holloway Jr
05/20/2010 - 5. Declaration of Patrik Guindon
05/20/2010 - 6. Declaration of Todd Donovan
05/20/2010 - 7. Declaration of Sheralin Carver
05/20/2010 - 8. Declaration of Michael R. Weiss
05/20/2010 - 9. Exhibit 1 GSM Conservation Order Dated 09-30-09
05/20/2010 - 10. Exhibit 2 GSM Balance Sheet
05/20/2010 - 11. Exhibit 3 GSM-IA Rehabilitation Agreement
05/20/2010 - 12. Exhibit 4 GSM-IA Assumption Reinsurance Agreement
05/20/2010 - 13. Exhibit 5 GSM-IA Service Agreement
05/20/2010 - 14. Exhibit 6 GSM-IA Novation Agreement
05/20/2010 - 15. Exhibit 7 GSM Court Order Dated 05-12-10
05/20/2010 - 16. Exhibit 8 Notice of Order to Show Cause
05/20/2010 - 17. Conservator's Reply in support of Rehabilitation Plan
05/20/2010 - 18. Exhibit 9 Response Letters
05/20/2010 - 19. Exhibit 10 Group Life Insurance Policy
05/20/2010 - 20. Exhibit 11 Group Long Term Disability Policy
05/20/2010 - 21. Exhibit 12 Dental Insurance Policy
02/26/2010 - Insurance Commissioner Poizner Announces Resolution of Golden State Mutual Insurance Company
11/25/2009 - CLO SOLICITS BIDS FOR GOLDEN STATE MUTUAL LIFE INSURANCE COMPANY'S INFORCE INSURANCE POLICIES
11/25/2009 - Summary Data of Business Offered
09/30/2009 - Conservation Order
September 30, 2009 - Insurance Commissioner Steve Poizner announced today that Golden State Mutual Life Insurance Company has been served an order of conservation and will discontinue selling new policies immediately.
"My first duty is to protect policyholders," said Commissioner Poizner. "For some time my department has been concerned with Golden State Mutual's continued operating losses and repeatedly warned the company that continuing to sell assets to cover losses was hazardous to its policyholders and would eventually lead to conservation. Unfortunately, that day has now come. For the protection of its policyholders, the company has been seized to prevent continuing financial deterioration."
The company's primary business is the sale of individual term and whole life products, with annuity riders attached on a participating basis through a number of general agents. In order to ensure that insurance policies are secure, state Law requires that companies like Golden State Mutual have more than $5 million in capital and surplus. At the end of June, Golden State Mutual reported capital and surplus of $1.65 million. During the 3rd quarter Golden State Mutual will report losses of approximately $600,000. The company has experienced significant net operating losses in every year for the past five years. Including losses through August 31, 2008, the company's losses total $6.1 million.
Golden State Mutual has been under close scrutiny by CDI since 2004, with the Department regularly communicating with Golden State Mutual about its financial situation. CDI has taken numerous steps to assist the company's board of directors in an effort to improve operations. However the company continued operating in a financially hazardous condition and still lacks any rehabilitation plan.
At this point, Golden State Mutual has advised CDI that they will not oppose the conservation and the company has been taken over by the Commissioner's Conservation and Liquidation Office. That office will oversee the payment of claims and the receipt of premiums while developing a wind-down plan to protect the policy holders. Throughout this time it is necessary for insureds to continue to pay their premiums to keep their insurance policy in force.
If you have a policy with Golden State Mutual, you should refer to the company's website at www.gsmlife.com or contact your agent.
MARTA L. SMITH, State Bar No. 101955
INSURANCE, a California corporation
Case NO. BS123005
CONSERVATOR AND RESTRAINING
Assigned for All Purposes To the Honorable
The verified Application of the Insurance Commissioner of the State of California ("the Commissioner") having been filed herein and it appearing to this Court from said Application that the Commissioner has (1) found Golden State Mutual Life Insurance Company ("Golden State") to be in such condition that its further transaction of business will be hazardous to its policyholders, creditors, and the public; and (2) found that said insurer does not comply with the requirements for the issuance to it of a certificate of authority,
The Commissioner is appointed as Conservator (hereinafter "Conservator") of Golden State and directed him to conduct the business of Golden State or so much thereof as he may deem appropriate (Insurance Code §§ 1011 and 1037(a));
Title to all of the assets of Golden State, wheresoever situated, is vested in the Conservator or his or her successor in office, in his official capacity as such, including without limitation deposits, certificates of deposit, bank accounts, mutual funds, securities, contracts, rights of actions, books, records and other assets of any and every type and nature, wheresoever situated, presently in Golden State's possession or control those which may be discovered hereafter (Insurance Code § 1011);
All funds and assets, including without limitation deposits, certificates of deposit, bank accounts, securities, and mutual fund shares of Golden State, in various financial depositary institutions, including without limitation banks, savings and loan associations, industrial loan companies, mutual funds and/or stock brokerages, wheresoever situated, are subject to withdrawal only upon direction or order by the Conservator (Insurance Code §§ 1011 and 1037 General Powers);
The Conservator is authorized forthwith to take possession of all of Golden State's books, records, property, real and personal, and assets including without limitation accounts, safe deposit boxes, rights of actions and all assets as may be in the name of Golden State, wheresoever situated (Insurance Code § 1011);
The Conservator is authorized to collect all moneys due to Golden State, and to do such other acts as are necessary or expedient to collect, conserve, or protect Golden State's assets, property, and business (Insurance Code § 1037(a));
The Conservator is authorized to collect all debts due and claims belonging to Golden State and to have the authority to sell, compound, compromise, or assign, for the purpose of collection upon such terms and conditions as the Conservator deems best, any bad or doubtful debts (Insurance Code § 1037(b));
The Conservator is authorized to compound, compromise or in any other manner negotiate settlements of claims against Golden State upon such terms and conditions as the Conservator shall deem to be in the best interest of the estate of Golden State (insurance Code § 1037(c));
The Conservator is authorized to acquire, hypothecate, encumber, lease, improve, sell, transfer, abandon, or otherwise dispose of or deal with, any real or personal property of Golden State at its reasonable market value, or, in cases other than acquisition, sale, or transfer on the basis of reasonable market value, upon such terms and conditions as the Conservator may deem proper, provided the market value of the property involved does not exceed the sum of twenty thousand dollars ($20,000) (Insurance Code § 1037(d));
The Conservator, for the purpose of executing and performing any of the powers and authority conferred upon the Conservator under Insurance Code § 1010 et seq, in the name of Golden State or in the Conservator's own name, is authorized to initiate, prosecute, and/or defend any and all suits and other legal proceedings, legal or equitable, and to execute, acknowledge and deliver any and all deeds, assignments, releases and other instruments necessary and proper to effectuate any sale of any real and personal property or other transaction in connection with the administration, liquidation or other disposition of the assets of golden State, in this or other states as may appear to him necessary to carry out his functions as Conservator (Insurance Code § 1037(f) and 1037 General Powers);
The Conservator is authorized to divert, take possession of and secure all mail of Golden State and to effect a change in the rights to use any and all post office boxes and other mail collection facilities used by Golden State (Insurance Code §§ 1011 and 1037 General Powers);
The Conservator is authorized to invest and reinvest, in such manner as the Conservator may deem suitable for the best interests of the policyholders and creditors of golden State, such portions of the funds and assets of Golden State in his possession as do not exceed the amount of the reserves required by law to be maintained by Golden State as reserves for life insurance policies, annuity contracts, supplementary agreements incidental to life business, and reserves for noncancellable disability policies, provided the investment or reinvestment to be made does not exceed the sum of one hundred thousand dollars ($100,000), except that the Conservator may make investments or reinvestments in excess of $100,000, but not exceeding $5,000,000 per investment or reinvestment, if such investments or reinvestments are in compliance with Golden State's existing investment guidelines (Attached as Exhibit 2 to the Application and incorporated by reference herein) or are made pursuant to the investment guidelines of the Commissioner's Conservation & Liquidation Office (Attached as Exhibit 3 to the Application and incorporated by reference herein) including investments and reinvestments through an investment pool consisting exclusively of assets from conserved and/or liquidating estates (Insurance Code § 1037(g) and General Powers);
The Conservator is authorized, in his discretion, to pay or defer payment of some or all claims, expenses, liabilities and/or obligations of Golden State, in whole or in part, accruing prior and/or subsequent to his appointments as Conservator; to establish a 90-day moratorium on surrenders of and withdrawals from life insurance policies and annuities; to develop and implement a procedure for surrenders of and withdrawals from life insurance policies and annuities due to hardship (Insurance Code §§ 1011 and 1037 General Powers);
The Conservator is authorized to appoint and employ under his hand and official seal, special deputy commissioners and/or legal counsel, as his agents, and to employ clerks and/or assistants, and to give to each of them those powers that the Consevator deems necessary (Insurance Code §§ 1035(a) and 1036);
The Conservator is authorized to fix the costs of employing special deputy commissioners, legal counsel, clerks, and/or assistants, and all expenses of taking possession of, conserving, conducting, liquidating, disposing of, or otherwise dealing with the business and property of Golden State, subject to the approval of the court, and to pay such costs out of the assets of Golden State to the Conservator and others including without limitation expenses, expense allocations, administrative costs, administrative overhead, and costs incurred and/or allocated by the Conservation & Liquidation Office, and if there are insufficient funds to pay such costs, then to pay such costs out of the Insurance Fund pursuant to Insurance Code § 1035 (Insurance Code §§ 1035(a), 1036 and 1037 General Powers);
The Conservator is authorized to assume or reject, or to modify, any executory contract, including without limitation, any lease, rental or utilization contract or agreement (including any schedule to any such contract or agreement), and any license or other arrangement for the use of computer software of business information systems, to which Golden State is a party or as to which Golden State agrees to accept an assignment of such contract, not later than 120 days of the date of the Order Appointing Conservator, unless such date is extended by application to and further order of this Court, and if not expressly assumed by the Conservator within that time then such executory contract is deemed rejected (Insurance Code § 1037 General Powers);
The Conservator is authorized to terminate compensation arrangements with employees, to enter into new compensation arrangements with employees including arrangements containing retention incentives, and to hire employees on such terms and conditions as he deems reasonable (Insurance Code § 1037 General Powers);
The Conservator is granted all the powers of the directors, officers and managers of Golden State, whose authorities are suspended except as such powers may be redelegated in writing by the Conservator (Insurance Code § 1037 General Powers);
Except upon the express authorization of the Conservator, Golden State and its officers, directors, agents, servants, and employees are enjoined from the transaction of Golden State's business or disposition of its property including without limitation from disposing of, using, transferring, selling, assigning, canceling, alienating, hypothecating or concealing in any manner or any way, or assisting any person in any of the foregoing, of the property or assets of Golden State or property or assets in the possession of Golden State, of any nature or kind, including without limitation claims or causes of action, until further order of this Court and further, such persons are enjoined from obstructing or interfering with the Conservator's conduct of his or her duties as Conservator (Insurance Code §§ 1011, 1020 and 1037);
All persons are enjoined from instituting or prosecuting or maintaining any action at law or suit in equity including without limitation actions or proceedings to compel discovery or production of documents or testimony, and matters in arbitration, and from obtaining or attempting to attain preferences, judgments, foreclosures, attachments or other liens of any kind or nature, against Golden State, its assets, or the Conservator, and from attaching, executing upon, foreclosing upon, redeeming of, making levy upon, or taking any other legal proceedings against any of the property and/or assets of Golden State, and from doing any act interfering with the conduct of said business by the Conservator, except after an order from this Court obtained after reasonable notice to the Conservator (insurance Code §§ 1011, 1020 and 1037 General Powers);
Enjoining the sale or deed for nonpayment of taxes or assessments levied by any taxing agency of property and/or assets of Golden State (Insurance Code § 1020(f));
Except with leave of court issued after a hearing in which the Conservator has received reasonable notice, all persons are enjoined from accelerating the due date of any obligation or claimed obligation, exercising any right of set-off, taking, retaining, retaking or attempting to retake possession of any real or personal property, withholding or diverting any rent or other obligation, and doing any act or other thing whatsoever to interfere with the possession of or management by the Conservator of the property and assets, owned or controlled, by Golden State or in the possession of Golden State or in any way interfering with the Conservator or interfering in any manner during the pendency of this proceeding with the exclusive jurisdiction of this Court over Golden State (Insurance Code §§ 1020 and 1037 General Powers);
All persons are enjoined from the waste of the assets of Golden State (insurance Code § 1020);
Golden State and all officers, directors, agents and employees of Golden State are ordered to deliver to, and immediately make available to, the Conservator all assets, books, records, accounts, information, computers, tapes, discs, writings, other recordings of information, equipment and other property of Golden State, wheresoever situated, in said persons custody or control and further, directing the aforesaid to disclose verbally, or in writing if requested by the Conservator, the exact whereabouts of the foregoing items if such items are not in the possession custody or control of said persons (Insurance Code §§ 1011, 1020 and 1037 General Powers);
All officers, directors, trustees, employees or agents of Golden State, or any other person, firm, association, partnership, corporate parent, holding company, affiliate or other entity in charge of any aspect of Golden State's affairs, either in whole or in part, and including but not limited to banks, savings and loan associations, financial or lending institutions, brokers, stock or mutual associations, or any parent, holding company, subsidiary or affiliated corporation or any other representative acting in concert with Golden State, are ordered to cooperate with the Conservator in the performance of his or her duties (Insurance Code § 1037 General Powers);
All persons who maintain records for Golden State, pursuant to written contract or any other agreement, are ordered to maintain such records and to deliver to the Conservator such records upon his request (Insurance Code §§ 1020 and 1037 General Powers);
All agents of Golden State, and all brokers who have done business with Golden State, are ordered to make all remittances of all funds collected by them or in their hands directly to the Conservator (Insurance Code §§ 1020 and 1037 General Powers);
All persons having possession of any lists of policyholders, escrow holders, mortgages or mortgagees of Golden State are ordered to deliver such lists to the Conservator and all persons are enjoined from using any such lists or any information contained therein without the consent of the Conservator (Insurance Code §§ 1020 and 1037 General Powers);
Golden State and its officers, directors, agents, servants, employees, successors, assigns, affiliates, and other persons or entities under their control and all persons or entities in concert or participation with Golden State, and each of them, are ordered to turn over to the Conservator all records, documentation, charts and/or descriptive materials of all funds, assets, property (owned beneficially or otherwise), and all other assets of Golden State wherever situated, and all books and records of accounts, title documents and other documents in their possession or under their control, which relate, directly or indirectly to assets or property owned or held by Golden State or to the business or operations of Golden State (Insurance Code §§ 1020 and 1037 General Powers);
Any and all provisions of any agreement entered into by and between any third party and Golden State, including by way of illustration, but not limited to, the following types of agreements (as well as any amendments, assignments, or modifications thereto), shall be stayed, and the assertion of any and all rights and remedies relating thereto shall also be stayed and barred, except as otherwise ordered by this Court, and this Court shall retain jurisdiction over any cause of action that has arisen or may otherwise arise under any such provision: financial guarantee bonds, promissory notes, loan agreements, security agreements, deeds of trust, mortgages, indemnification agreements, subrogation agreements, subordination agreements, pledge agreements, assignments of rents or other collateral, financial statements, letters of credit, leases, insurance policies, guaranties, escrow agreements, management agreements, real estate brokerage and rental agreements, servicing agreements, attorney agreements, consulting agreements, easement agreements, license agreements, franchise agreements, or employment contracts that provide in any manner that selection, appointment or retention of a conservator, receiver or trustee by any court, or entry of any order such as hereby made, shall be deemed to be, or otherwise operate as, a breach, violation, event of default, termination, event of dissolution, event of acceleration, insolvency, bankruptcy, or liquidation (Insurance Code §§ 1020 and 1037 General Powers).
Dated: SEP 30 2009 DAVID P. YAFFE
DECLARATION OF SERVICE BY E-MAIL AND OVERNIGHT COURIER
Case Name: Insurance Commissioner v. Golden State Mutual Life insurance Co.
I am employed in the Office of the Attorney General, which is the office of a member of the California State Bar, at which member's direction this service is made. I am 18 years of age or older and not a party to this matter; my business address is: 300 South Spring Street, Suite 1702, Los Angeles, CA 90013. I am familiar with the business practice at the Office of the Attorney General for collection and processing of correspondence for overnight mail with the FEDERAL EXPRESS overnight mail service. In accordance with that practice, correspondence placed in the internal mail collection system at the Office of the Attorney General is deposited with the overnight courier that same day in the ordinary course of business.
On September 28, 2009, I served the attached [PROPOSED] ORDER APPOINTING CONSERVATOR AND RESTRAINING ORDER by transmitting a true copy via electronic mail. In addition, I placed a true copy thereof enclosed in a sealed envelope, in the internal mail system of the Office of the Attorney General, for overnight delivery, addressed as follows:
Michael L. Rosenfield, Esq.
Forty-Seventh Floor
Los Angeles, California 90071-2045
Phone: (213) 614-7321
Fax: (213) 614-7399
E-mail Address: mrosenfield@bargerwolen.com
I declare under penalty of perjury under the laws of the State of California the foregoing is true and correct and that this declaration was executed on September 28, 2009, at Los Angeles, California.