Illinois Department of Financial and Professional Regulation

Division of Financial Institutions

NEWS
For Immediate Release:
November 7, 2008
   
 

NOTICE OF LIQUIDATION OF GUARANTY TITLE AND TRUST COMPANY

By letter dated October 30, 2008, the Division of Financial Institutions learned Guaranty Title and Trust Company ("GTT"), an Ohio company authorized to transact the business of title insurance in Illinois, was liquidated on October 27, 2008, pursuant to a Final Order and Judgment of Liquidation issued by the Court of Common Pleas in Franklin County, Ohio (Case # 08CVH07-10725).  In addition to the immediate liquidation of GTT and appointment of a Liquidator, the court among other things:
 

  • Ordered all agents and brokers to cease issuing GTT commitments and policies
  • Cancelled all insurance policies, commitments and certificates of insurance issued by GTT, which cancellation is to be effective no later than 12:01 A.M., November 26, 2008
  • Established an absolute bar date of 4:30 P.M. (EDT) on October 27, 2009, for filing proofs of claims with the Liquidator.

The following documents received from the Liquidator are available on our website for review:

Inquiries regarding the GTT liquidation and requests for Proofs of Claim forms should be directed to:  The Office of the Ohio Insurance Liquidator, Attn:  GTT, 50 W. Town Street, Third Floor, Suite 350, Columbus, OH 43215.  The telephone for that office is (614) 487-9200.