Former Spitzer Unit Chief Peters to Head N.Y. Liquidation Bureau

Acting New York State Insurance Superintendent Eric Dinallo announced the appointment of Mark Peters as special deputy superintendent in charge of the New York Liquidation Bureau (NYLB).

Peters, the former chief of the Public Integrity Unit in Attorney General Eliot Spitzer’s office, is now a partner at Scarola Ellis and has served as lead counsel on complex bankruptcy and insurance matters as well as one of the largest predatory lending cases presently in the federal court system.

Johanna Hall, the former head of the liquidation bureau, was indicted by the Manhattan District Attorney’s Office in December 2006 and charged with grand larceny, defrauding the government, official misconduct and other charges, according to department officials.

The NYLB acts for the Superintendent of Insurance as the court-appointed fiduciary and receiver of impaired or insolvent insurance companies. Its mission is to maximize assets and resolve liabilities, return rehabilitated companies to the marketplace or distribute the proceeds of the company in a timely manner to creditors.

Dinallo also recently announced that the Liquidation Bureau successfully rehabilitated a Long Island insurance company, Interboro Mutual Indemnity Insurance Co., the oldest insurance company on and serving Long Island. This was the first successful insurance company rehabilitation in six years and the first time the bureau was able to successfully demutualize an insurance company in rehabilitation.

Peters has experience as a prosecutor and public official. He has been a partner in the law firm of Scarola Ellis since 2006. In 2005, he ran for Brooklyn District Attorney. Prior to joining Scarola Ellis, he was in charge, statewide, of all government corruption prosecutions for the Attorney General’s office.

Earlier in his career, he served as senior staff attorney at Children’s Rights, Inc., a national watchdog organization advocating on behalf of abused and neglected children in the U.S. At Children’s Rights,

Source: New York State Insurance Department