Publication Date: Friday, 5 October 2007
Notice Code: 2614
Petitions to Transfer Business
IN THE HIGH COURT OF JUSTICE
CLAIM NO. 2697/2007 OF 2007
IN THE MATTER OF
ALL COUNTIES INSURANCE COMPANY LIMITED
and IN THE MATTER OF
LANDMARK INSURANCE COMPANY LIMITED
and IN THE MATTER OF THE
FINANCIAL SERVICES AND MARKETS ACT 2000
NOTICE IS HEREBY GIVEN that All Counties Insurance Company Limited (“ACI”) presented an application to the High Court of England and Wales (the “Application”) pursuant to Part VII of the Financial Services and Markets Act 2000 (“FSMA”) for an order:
(1) under section 111(1) of FSMA sanctioning a scheme (the “Scheme”) for the transfer to Landmark Insurance Company Limited (“Landmark”) of all general insurance business carried on by ACI (the “Transferring Business”); and
(2) under section 112 of FSMA making ancillary provisions to implement the Scheme.
A copy of the report dated 13 April 2007 and of a supplemental report dated 2 October 2007 (the “Report”) prepared by an independent expert, Rajan Ahuja, a fellow of the Institute of Actuaries, of EMB Consultancy LLP, pursuant to section 109 of FSMA on the effects of the Scheme on the policyholders of ACI and Landmark and a copy of a statement setting out the terms of the Scheme and a summary of the Report (the “Summary”) is and will continue to be available free of charge to anyone requesting such copies until the date on which the Scheme will be heard before the Court by contacting ACI in writing at the offices of ACI at Avebury, 489-499 Avebury Boulevard, Saxon Gate West, Central Milton Keynes, MK9 2NW (for the attention of Victoria Lewis).
Information relating to a separate transfer of insurance business to Landmark which is currently underway and due to become effective on 1 December 2007 following a court hearing on 26 October 2007, pursuant to which the general insurance business of New Hampshire Insurance Company will be transferred to Landmark, can be obtained at www.aigtransfer.co.uk.
All claims in relation to the Transferring Business currently being dealt with by or on behalf of ACI will, after the proposed transfer, be handled by or on behalf of Landmark. Future claims arising under the policies included in the Transferring Business will be similarly dealt with by or on behalf of Landmark. The proposed transfer will secure the continuation by or against Landmark of any legal proceedings currently pending by or against ACI that relate to the rights and obligations in respect of the Transferring Business.
The Application is directed to be heard before a Judge of the Chancery Division at the Royal Courts of Justice, Strand, London WC2A 2LL on or about 25 October 2007 and any person, including any employee of Landmark or any employee engaged in the Transferring Business, who claims to be adversely affected by the carrying out of the Scheme may appear at the time of the hearing in person or by Counsel and/or by making written representations. Any person who intends so to appear, and any policyholder of ACI or Landmark who dissents from the Scheme but does not intend so to appear, are requested to give not less than two clear days’ notice prior to the hearing date in writing of such intention or dissent, and the reasons relating thereto, to the Solicitors named below.
Dated this 5 October 2007.
of 3 More London Riverside, London SE1 2AQ.
Solicitors to ACI and Landmark (Reference MAR/LN01467).
Last updated April 20 2011, 11.02PM (almost 3 years ago)