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NYID

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AcronymDefinition
NYIDNew York Insurance Department
NYIDNot Yet It's Difficult (performance artists; Australia)


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NEW YORK -- Financial Guaranty Insurance Company ("FGIC") today announced that the New York Insurance Department (the "NYID") has issued an order pursuant to Section 1310 of the New York Insurance Law (the "NYID Order") requiring FGIC, effective today, to suspend paying any and all claims and to take the other actions required under the NYID Order as further described below.
The Company said it continues to work closely with Superintendent Dinallo and the NYID as it progresses with its negotiations.
Regulatory approval was declined as a result of the companies' inability to reach a stock purchase agreement that was satisfactory to the NYID.
 
 
 
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