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Subsequent to receiving the Order, Frontier waived its right to a hearing on the <br />suspension of its license. Accordingly, the suspension is final. The Commissioner's <br />Order and Frontier's waiver aze attached hereto as Exhibit A and B. <br />Based on the actions of the Insurance Commissioner and Frontier, the Division <br />issued NOV CV 2001-005, which states that Powderhom has failed to maintain a <br />performance bond in compliance with regulatory requirements. The abatement <br />deadline was May 14, 2001. Powderhom did not replace the Frontier bond as <br />required by the NOV, and on May 15, 2001, the Division issued a cessation order <br />against Powderhom for failure to abate the NOV and because the violation is causing <br />or can reasonably be expected to cause significant imminent environmental harm <br />land, air or water resources. <br />Powderhor now asserts a variety of arguments which essentially request this <br />Board not to require this operator to replace the bond and not to forfeit the bond <br />despite the fact that a bond is required until bond release, that Powderhom does not <br />have a bond that complies with regulatory requirements, and that Powderhor has not <br />completed reclamation of its site. Powderhorn's azguments fall flat when viewed in <br />the context of its own bankruptcy proceedings, Frontier's loss of licenses to conduct <br />its insurance business, Frontier's failing financial health, and Powderhom's own <br />admission in its first Petition for Formal Review that loss of the surety's license to <br />transact insurance business by the Colorado Commissioner of Insurance is a violation <br />of Colorado regulations. <br />