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Hunter -

I hope you may remember me from a BSF meeting here in DC a couple of years ago (and co-grooming with you and Matt Lieberman's wedding many years before that). In connection to the matter referenced below, my client New York Life has an issue that may require some outreach to the Department of Insurance in Delaware, or related contacts. Do you have any relationships or knowledge of potential players that may be useful to them? The basic issue is that they think GenWorth 's long-term care insurance company is going to insolvent and trigger massive liabilities for MNY Life and others under state guaranty association systems, and that GenWorth is not undertaking two transactions that are going to make those liabilities even worse, in order to benefit GenWorth's parent company.

Any chance you have a moment to discuss or any thoughts to share?

Many thanks,

Hamish


Hamish PM Hume
Boies, Schiller & Flexner
5301 Wisconsin Avenue, NW
Washington DC 20015
(202) 274 1149 (w)
(703) 328 9651 (cell)

hhume@bsfllp.com<mailto:hhume@bsfllp.com>

From: Hamish Hume
Sent: Tuesday, March 15, 2016 1:03 PM
To: BSF_All_Partners; BSF_All_Counsel
Cc: Laura Benvenuto
Subject: MP Approved Conflict Check


Existing client New York Life has asked us if we can advise them and represent them in possible litigation that would be adverse to GenWorth, a conglomerate of life, long-term care, and property and casualty insurance companies. GenWorth's long-term care insurance subsidiary is in danger of becoming insolvent which will trigger guaranty association liabilities for New York Life and others. The GenWorth parent is proposing two transactions NY Life may wish to oppose: (a) a stock spin off whereby the long term care subsidiary will spin off its ownership of the profitable life insurance subsidiary, and (b) an amendment to $6 billion of bonds so as to provide that the insolvency of the long-term care insurance subsidiary will no longer be treated as an event of default.

Please let me know if there is any reason we may not take on this representation.

Jonathan Schiller approved this conflict check.


Hamish PM Hume
Boies, Schiller & Flexner
5301 Wisconsin Avenue, NW
Washington DC 20015
(202) 274 1149 (w)
(703) 328 9651 (cell)

hhume@bsfllp.com<mailto:hhume@bsfllp.com>


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