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On April 7, 2016, the Circuit Court of the First Circuit, in the State of Hawaii, entered an Order of Liquidation in the case entitled Insurance Commissioner of the State of Hawaii v. Family Health Hawaii, MBS, S.P. No. 16-1-0086 KTN, which placed Family Health Hawaii, MBS in liquidation ("the Company in Liquidation"), and authorized the Insurance Commissioner to take possession and control of the Company in Liquidation’s assets as the Liquidator and assume the powers of the Company in Liquidation’s directors and officers for the protection of policyholders, creditors, and the public pursuant to the provisions of the Insurers Supervision, Rehabilitation and Liquidation Act of the Hawaii Insurance Code, Hawaii Revised Statutes, Chapter 431, Article 15, and Mutual Benefit Societies, Hawaii Revised Statutes, Chapter 432, Article 1. The Insurance Commissioner has the responsibility to take these actions whenever a company is deemed to be statutorily impaired.
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