First Keystone Risk Retention Group, Inc.
To: All Claimants of First Keystone Risk Retention Group, Inc., a South Carolina Insurer
NOTICE IS HEREBY GIVEN that on October 21, 2014 the Court of Common Pleas for the Fifth Judicial Circuit of Richland County, South Carolina (Court), entered an Order in Civil Action Number 2014-CP-40-5987 authorizing the liquidation of First Keystone Risk Retention Group, Inc. ("First Keystone") and directing the Director of Insurance of the State of South Carolina, as Liquidator, to liquidate the assets of the Company.
All persons who may have claims against First Keystone must file a verified original Proof of Claim (POC) with:
Claimant Services
First Keystone Risk Retention Group, Inc.
in Liquidation
8300 N. Hayden Rd., Ste. A-100
Scottsdale, AZ 85258
Section 38-27-550(a) of the South Carolina Code of Laws, provides:
Proof of Claim shall consist of a statement signed by the claimant that includes all of the following that are applicable:
1) the particulars of the claim, including the
consideration given for it;
2) the identity and amount of the security on
the claim;
3) the payments made on the debt, if any;
4) that the sum claimed is justly owing and
that there is no setoff, counterclaim, or
defense to the claim;
5) any right of priority of payment or other
specific right asserted by the claimants;
6) a copy of the written instrument which is
the foundation of the claim; and the name
and address of the claimant and the
attorney who represents him, if any.
An insured under a liability policy and third party claimants may file a contingent claim for any specific loss or occurrence as to which the insured's liability was not determined as of the liquidation date. Whether or not the third party files a claim, the insured may file a claim on his or her own behalf in the liquidation. The insured's claim may be allowed after consideration of the probable outcome of any pending action against the insured on which the claim is based, the probable damages recoverable in the action, and the probable cost and expense of defense.
Whenever any third party asserts a cause of action against an insured of the Company, the third party may file a claim with the Liquidator.
The Company's obligation, if any, to defend or continue the defense of any claim or suit under an insurance policy issued by the Company was terminated upon the entry of the Order Commencing Liquidation Proceedings & Granting An Injunction & Automatic Stay of Proceedings (Order).
The rights of claimants to share in the distribution of assets, if any, of First Keystone are fixed as of date of the entry of the Order, October 21, 2014, except as provided by Sections 38-27-380 and 38-27-560 of the South Carolina Code of Laws.
Attached to this Notice is the POC for use by all persons who may have claims against First Keystone, along with necessary instructions found on the back of the POC. Additional POC forms may be obtained by written request to Claimant Services at the address set forth above or on our website, www.1stkeystone.com.
As cited above, South Carolina law requires that all claims against First Keystone shall be verified by a signed statement by the claimant, or someone authorized to act on the claimant's behalf. If the claimant is an individual, then the individual must sign. If the claimant is a corporation, then an officer must sign and identify capacity. If the claimant is a partnership, then a partner must sign. In the event a claim is filed by one person on behalf of another, such as an attorney in fact, guardian or receiver, attach to the POC evidence or explanation indicating your authorization to act. The POC requires the claimant signature be notarized.
We will acknowledge, in writing, the receipt of your completed POC and provide you a POC claim number. You will be notified, some time thereafter, of the Liquidator's decision regarding your claim. If your claim is denied in whole or part by the Liquidator, and you dispute the Liquidator's findings, you will have the opportunity to present your dispute to the Court or in a forum designated by the Court.
Finally, First Keystone's website (www.1stkeystone.com) will be a source for news and information regarding the ongoing liquidation.
THE DEADLINE FOR FILING CLAIMS AGAINST FIRST KEYSTONE RISK RETENTION GROUP, INC. is 5:00 o'clock p.m., MST on February 28, 2015. Your Claim must be postmarked (not postage meter stamped) no later than 5:00 o'clock p.m., on this date, February 28, 2015.
RAYMOND G. FARMER,
Director of Insurance of the State of
South Carolina as Liquidator of FIRST
KEYSTONE RISK RETENTION GROUP, INC.
Dated: October 23, 2014
By: s/ Michael J. FitzGibbons,
Special Deputy Liquidator, Scottsdale, AZ
Ref# 0003180005-01
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