The Superintendent of Financial Services of the State of New York, in his capacity as the court-appointed rehabilitator (the “Rehabilitator”) of Financial Guaranty Insurance Company (“FGIC”), determined that the conditions to the effective date of the First Amended Plan of Rehabilitation for FGIC dated June 4, 2013 (the “Plan”) had been satisfied and that the effective date of the Plan occurred on August 19, 2013. On the effective date, the Plan became effective and FGIC's Rehabilitation Proceeding terminated.
The initial Cash Payment Percentage ("CPP") was set at 17.00%. The CPP was increased to 21.00% effective October 24, 2014, and was further increased to 22.00% effective October 8, 2015.
Effective October 24, 2016, the CPP was further increased from 22.00% to 25.00%.
The Plan requires each holder of a Policy Claim, whenever arising, to submit to FGIC, among other things, a fully completed and duly executed Proof of Policy Claim Form, in order to properly submit such Policy Claim under the Plan. The Proof of Policy Claim Form is available here.
2016 Annual CPP Revaluation Notice
2015 Annual CPP Revaluation Notice
2014 Annual CPP Revaluation Notice
Notice of Effective Date and Initial CPP
Plan of Rehabilitation and Exhibits
Disclosure Statement and Exhibits
Instructions for Completing Proof of Policy Claim Form
Plan Approval Order
List of Initial Directors and Officers
Rehabilitation Court Documents