Lieutenant Governor Tregenza A. Roach, Esq., who also serves as the Territory’s Commissioner of Insurance, and who was appointed by the Superior Court of the Virgin Islands as Ancillary Receiver of Real Legacy Assurance Company after the company was declared insolvent, is pleased to announce that the Domiciliary Court has granted an extension to file claims for Virgin Islands claimants until May 17, 2019.
Lieutenant Governor Roach, upon being appointed Ancillary Receiver on January 18, 2019, had petitioned for an extension of the original deadline date in order to protect policyholders in the Territory and to allow them adequate time to file claims.
“I did not believe that the timeframe originally provided by the Court in Puerto Rico was adequate for claimants in either the U.S. Virgin Islands or British Virgin Islands. I petitioned the Liquidator of Real Legacy in Puerto Rico, where the company was domiciled, requesting that the Receivership Court extend the deadline by at least one month,” Lieutenant Governor Roach said.
“Additional time was needed to ensure that all claimants are notified and have adequate time to file a Proof of Claim Form at the Division of Banking, Insurance and Financial Regulation. I recognize the importance of remaining steadfast in protecting the lawful financial interests of Virgin Islands Real Legacy claimants, many of whom are property owners who held policies with Real Legacy and have valid claims that have not been paid,” he continued.
Due to the extended deadline, the Division of Banking, Insurance and Financial Regulation offices will not open on Thursday, April 17th, as had been announced formerly. For additional information, claimants can call the Division at 340-774-7166 (St. Thomas) and 340-773-6459 (St. Croix).
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