IMPORTANT NOTICE: The following Frequently Asked Questions ("FAQ") and answers are intended to provide an overview of information regarding the liquidation of Webb County Title & Abstract Company, Inc., in Liquidation ("WCTA"). Cantilo & Bennett, L.L.P. as Special Deputy Receiver of WCTA reserves the right to provide updated and new information that may affect the interests of WCTA. Nothing herein constitutes a binding legal statement by the Commissioner of Insurance of the State of Texas, the Special Deputy Receiver, or their representatives. Nor are the statements contained herein intended as complete legal descriptions of the events or matters to which they relate. The material provided herein is offered only for the purpose of general information. For full legal information, interested parties should review the source documents and applicable legal authorities.

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On that same date, an Agreed Order Appointing Liquidator and Permanent Injunction (the "Order of Liquidation") was entered by the 201st Judicial District Court of Travis County, Texas (the "Receivership Court") granting the Petition, designating the Commissioner of Insurance as Liquidator, and placing WCTA into receivership for liquidation.

This action was initiated in order to protect claimants, creditors, and the public from further harm which might be caused by WCTA’s continued operation.  Upon consideration of the Petition, the Receivership Court determined that WCTA is insolvent as defined in Texas Insurance Code section 443.004(a)(13) and that grounds exist to place WCTA into liquidation under Texas Insurance Code section 443.057.  Thus, the Receivership Court entered the Order of Liquidation.

An Order of Liquidation is a final order that gives the Commissioner of Insurance as Liquidator, among other powers and duties, the authority to take control over WCTA, marshal its assets, and liquidate them. The Liquidator collects all of the assets belonging to WCTA as the company that is in receivership (also referred to as the "receivership estate"). Assets are then used to reduce estate debts and pay claims as outlined in Texas Insurance Code chapter 443. The Order of Liquidation also authorized the Liquidator to appoint a special deputy receiver and retain other professional services he deems necessary.

The SDR administers the day-to-day affairs of WCTA for the Liquidator. The SDR is charged with responsibilities such as obtaining control of WCTA’s operations, and identifying and securing company property and records; marshaling, evaluating and liquidating the assets of the company; handling litigation filed by and against the estate; operating the company’s information systems and extracting data; investigating liability of parties responsible for the company’s insolvency and identifying preferential transfers; providing notice of the liquidation to claimants and interested parties; coordinating referral of claims to affected guaranty associations and handling claims against the estate; distributing assets to creditors with approved claims; and filing pleadings, financial statements, and reports with the Liquidator and the Receivership Court.

webbsdr@cb-firm.com

As applicable to WCTA, the Act defines an unpaid claim as a covered claim if the claim is against trust funds or an escrow account of an impaired title insurance company or agent and is unpaid because of a shortage of those funds or in that account. Further, a claim may be covered up to $250,000 per transaction. Please consult the applicable statute for complete information regarding covered claim requirements and limitations. You may also visit the TTIGA website at www.ttiga.org for further information, instructions, and forms required to file a Proof of Claim ("POC").