We refer to the scheme documents issued by Stronghold Insurance Company Limited (In Administration) (the “Company“) on 16 December 2020 in relation to the Direct Scheme (the “Direct Scheme Document“) and the General Scheme (the “General Scheme Document”). Terms used but not defined in this notice shall have the meaning given to them in the scheme documents.
The court hearing to sanction the Direct Scheme and the General Scheme commenced at 10.30am (London time) on Wednesday 10 February 2021 and took place remotely. The Company is pleased to announce that, by orders of the same date, the Court sanctioned both the Direct Scheme and the General Scheme proposed by the Company. The orders were subsequently delivered to the Registrar of Companies on 11 February 2021 as required by the Companies Act 2006.
NOTICE IS HEREBY GIVEN that:
- the Effective Date in respect of the Direct Scheme and the General Scheme is 11 February 2021;
- the Direct Final Claims Time will occur at 11.59pm (London time) on 10 August 2021; and
- The General Final Claims Time, should the General Scheme Administrators determine that the General Final Claims Time can be set for submission of General Scheme Claims in accordance with the terms of the General Scheme, will be notified to General Scheme Creditors with 180 calendar days notice.
IMPORTANT: ALL DIRECT SCHEME CREDITORS ARE REMINDED THAT THEY MUST SUBMIT THEIR DIRECT SCHEME CLAIMS TO THE COMPANY BY NO LATER THAN THE DIRECT FINAL CLAIMS TIME.
No Direct Scheme Creditor shall be entitled to receive any payment from the Company under the Direct Scheme in respect of a Direct Scheme Claim unless that Direct Scheme Claim is:
- set out in an Existing Claim Form;
- set out in a Voting and Proxy Form in which the Direct Scheme Creditor has elected to have such form treated as its Claim Form; or
- notified to the Company by the Direct Scheme Creditor returning a completed New Claim Form.
Direct Scheme Creditors who require a New Claim Form can download it from the Administrators’ website (www.pwc.co.uk/services/business-restructuring/administrations/stronghold.html) or the Company’s website (www.strongholdinsco.co.uk). Alternatively, the Company will provide a paper copy free of charge to any Direct Scheme Creditor upon request to: email@example.com.
Dated: 15 February 2021
Stronghold Insurance Company Limited (In Administration)