Matter of Knickerbocker Agency (Holz)

In Matter of Knickerbocker Agency (Holz) (4 N.Y.2d 245 [1958]), it was stated that the "Supreme Court, in the liquidation proceeding, must take cognizance of the interests of the policyholders, creditors, stockholders, and the public," citing what is now Insurance Law 7417, as upon the commencement of such proceeding "the rights of creditors, indeed, the interests of policyholders, stockholders and the public, intervened" (at 250-251). The Court went on to say that the Supreme Court, "with the agency of the Superintendent of Insurance, was intended to have exclusive jurisdiction of claims both for and against an insurance company in liquidation . . . and other courts, except when called upon by the court of primary jurisdiction for assistance, are excluded from participation" (at 250, 252.)