Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Les H who wrote (137813)	12/9/2001 9:16:10 AM
From: Les H	Read Replies (2) of 436258

massive U.S. bond default 300,000 defendants lose bail bonds due to insolvent insurance firms More than 300,000 US criminal defendants are to have their bail bonds cancelled. The two insurance companies that issued them have been declared insolvent. Some of the defendants could be rearrested and jailed, or required to post bond a second time. The implications of the cancellations are not entirely clear, because individual judges have discretion on how to proceed. Most violent criminals are held on high bail or no bail and are not expected to be affected. Others could be released on their own recognisance or skip bail without fear of pursuit by bounty hunters. Many will lose premiums paid to bond agents. The two Los Angeles County-based companies, Amwest Surety Insurance and its subsidiary, Far West Insurance, were liquidated earlier this year by a judge in Lancaster County, Nebraska, where Amwest is incorporated. Neil Berger, an attorney for Amwest, says the company regrets the liquidation but must observe Nebraska law.

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