Southern Title Insurance Corporation, In Receivership

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CLAIMS FILING DEADLINE WAS JANUARY 28, 2015

On July 28, 2014, the State Corporation Commission (the "Commission") for the Commonwealth of Virginia entered its Order of Liquidation with a Finding of Insolvency (“Liquidation Order”) for Southern Title Insurance Corporation (“Southern Title”).  The Commission set the Claim Filing Deadline for six months after the date of the Liquidation Order.  Therefore, all claimants were to file their Proofs of Claim (“POC”) by the Claims Filing Deadline of January 28, 2015.  All timely filed claims were also required to be rendered, certain, liquidated, and non-contingent before January 28, 2015.  Southern Title is currently adjudicating Proofs of Claim and will issue a Notice of Claim Determination approving or denying the POC.  If a claim is denied, the claimant may file an appeal under the Receivership Appeal Procedure.  Listed below are links to the POC Form, POC Instructions, Liquidation Order, and the Receivership Appeal Procedures.  If a POC is received after the Claims Filing Deadline, it will be considered as a lower priority claim to be paid after all other claims are paid subject to the availability of funds.

 

POC FORM

 

POC INSTRUCTIONS

 

RECEIVERSHIP APPEAL PROCEDURE

 

NOTICE OF CONTINGENT HEARING

FOR APPROVAL OF ASSUMPTION AGREEMENT

On October 4, 2016, the Deputy Receiver filed her Application for Orders Setting Contingent Hearing, Approving Notice Procedures, Establishing Response Date, and Approving Proposed Assumption Agreement (the "Application"). The Application seeks the Commission’s approval of the proposed assumption agreement (the "Assumption Agreement") between Southern Title, First National Title Insurance Company ("FNTI") and the Texas Title Insurance Guaranty Association ("TTIGA"). FNTI is a Texas domiciled title insurer licensed to do business in the state of Texas. TTIGA is a non-profit association created by the Texas legislature that provides coverage for certain claims filed under Southern Title policies issued in the state of Texas ("Texas Policies"). If the Assumption Agreement is approved by the Commission, FNTI will assume all of TTIGA’s coverage obligations on claims filed under the Texas Policies after the Claims Filing Deadline. All consideration for FNTI’s assumption of liability under the Assumption Agreement is being paid by TTIGA. Therefore, the Assumption Agreement will generate no negative financial impact on the Southern Title receivership estate.

On November 3, 2016, the Commission entered its Scheduling Order setting the hearing on the Application for January 19, 2017, in the second floor courtroom of the State Corporation Commission, Tyler Building, 1300 East Main Street, Richmond, Virginia 23219. All persons who expect to appear at the hearing to oppose any of the relief requested in the Application are required to file a Notice of Objection with the Commission, and serve it upon the Deputy Receiver and all other parties of record no later than December 20, 2016. In the event that no party files a Notice of Objection to the proposed Assumption Agreement, the hearing will not be held and the Commission will decide the matter without holding a hearing. Copies of the Scheduling Order and the Application are posted in the Documents section of this web site. These documents provide important information concerning the requirements for filing objections to the Application and appearing at the hearing.

 

2016-10-04 Application for Orders Setting Contingent Hearing, Approving Notice Procedures, Establishing Response Date, and Approving Proposed Assumption Agreement

 
2016-11-03 Scheduling Order Setting Contingent Hearing, Approving Notice Procedures, Establishing Response Date and Approving Proposed Assumption Agreement
 
2016-11-18 Notice of Contingent Hearing for Approval of Assumption Agreement
 

Receivership Filing Registration

 

Frequently Asked Questions regarding Hearing Notice

 
 

Contact Information:

Southern Title Insurance Corporation

P.O. Box 399

Richmond, Virginia 23218

Street Address:

c/o Cantilo & Bennett, L.L.P.
11401 Century Oaks Terrace
Suite 300
Austin, Texas 78758

804-648-6000

800-468-0151

Claims Contact Information:

To file a new claim, please complete the POC Form and submit the claim to the address above or by e-mail to newclaims@southerntitle.com.
To request a policy, please send an e-mail to documentrequest@southerntitle.com.
To file a Proof of Claim in the receivership, click here for the instructions and claim form.
If you would like to receive electronic copies of documents concerning Southern Title, click here .