|
On January 4, 2016, an Expedited Order of Liquidation and Finding of Insolvency for Colorado Health Insurance Cooperative (CHIC) was approved by the Denver County District Court. The Commissioner of Insurance for the State of Colorado was appointed as the Liquidator of CHIC.
On October 18, 2019, the United States Court of Federal Claims entered judgment in favor of the Colorado HealthOp in the amount of $24,489,799 in a case brought against the federal government for offsets claimed against reinsurance amounts due to the Colorado HealthOp. The federal government has appealed this judgment.
On November 22, 2019, the Denver Colorado District Court approved the sale of the Colorado HealthOp's ACA risk corridor receivable to Juris Capital. The sale calls for a $20 million upfront, non-recourse payment and a formulaic shared recovery based on the outcome of the litigation. The $20 million upfront, non-recourse payment was received on November 29, 2019.
|
