Item 8.01. Other Information.
In its Current Report on Form 8-K filed with the Securities and Exchange
Commission on January 17, 2020, Standard Diversified Inc. (the "Registrant")
disclosed that on January 14, 2020, the New York State Department of Financial
Services (the "NYSDFS") filed a petition for an order of liquidation pursuant to
Article 74 of the New York Consolidated Insurance Law ("Order of Liquidation")
in the Supreme Court of the State of New York, County of Nassau (the "Court")
with respect to the Registrant's indirect wholly-owned subsidiary, Maidstone
Insurance Company ("Maidstone"), formerly known as AutoOne Insurance Company.
On January 21, 2020, the Court issued an order to show cause establishing
February 13, 2020 as the date of a hearing before the Court with respect to the
Order of Liquidation. At such hearing, the Court will consider approving the
Order of Liquidation. The Registrant expects that the petition for the Order of
Liquidation will be unopposed at such hearing. Should the Order of Liquidation
be granted, the control and assets of Maidstone will vest with the NYS
Liquidation Bureau. At such time, the board of directors of Maidstone will be
dissolved, and the Registrant will no longer recognize any assets or liabilities
with respect to Maidstone.
No assurance can be given that the Order of Liquidation will be approved at the
time of the hearing or otherwise.
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