Dan Schwarzmann and Nigel Rackham are the appointed Scheme Administrators of OIC Run-Off Limited (formerly named Ralli Brothers Insurance Company Limited and The Orion Insurance Company plc) and The London and Overseas Insurance Company Limited (formerly named Hull Underwriters’ Association Limited and The London and Overseas Insurance Company plc) (together "the Companies").
This website is for Scheme Creditors to notify them of important matters.
We refer to the Practice Statement Letter issued to Opt Out Qualifying ILU Policyholders on 28 May 2024 in relation to the proposed “Final Scheme”
Please note that the date originally set for the proposed Final Scheme Convening Hearing has been vacated, and the Convening Hearing will no longer be held on 11 July 2024. The Companies intend to relist the Convening Hearing at a future date and will provide Scheme Creditors with notice of any such relisted hearing date, along with a short supplemental practice statement letter, in due course.
In the interim, Opt Out Qualifying ILU Policyholders do not need to take any separate action, and can continue to present their claims to the Companies in the ordinary course.
DY SchwarzmannDan Schwarzmann and Nigel Rackham were appointed Joint Scheme Administrators of OIC Run-Off Limited and The London and Overseas Insurance Company Limited to manage their affairs, business and property as agents without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Scheme Administrators.
Personal data will be kept secure and processed only for matters relating to the scheme of arrangement.
Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Scheme Administrators.
We are pleased to confirm that the Companies, acting by their Scheme Administrators, have today issued a Practice Statement Letter in respect of a scheme of arrangement under Part 26 of the Companies Act 2006 (the “Final Scheme”). This Final Scheme seeks to amend the terms of the existing scheme of arrangement in relation to Opt Out Qualifying ILU Policyholders only.
A copy of the Practice Statement Letter can be found in the Scheme Documents section of this website.
The Final Scheme is an important first step in the Scheme Administrators’ plans to accelerate a final distribution for general Scheme Creditors.
The Final Scheme Convening Hearing is scheduled to be held on 11 July 2024. A further update to all Scheme Creditors will be provided immediately afterwards.
DY SchwarzmannDan Schwarzmann and Nigel Rackham were appointed Joint Scheme Administrators of OIC Run-Off Limited and The London and Overseas Insurance Company Limited to manage their affairs, business and property as agents without personal liability. Both are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Scheme Administrators.
Personal data will be kept secure and processed only for matters relating to the scheme of arrangement.
Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Scheme Administrators.
Should creditors have any questions with regard to the Final Scheme please contact [email protected] and the Amending Scheme please contact the Run-off Company, Hampden PLC, either by email at [email protected] or by telephone on +44 (0) 207 863 6560.
Each creditor of the Companies should not construe the contents of this website as legal, tax, financial or other professional advice. Each creditor should consult its own professional advisers as to the legal, tax, financial or other matters relevant to the action he should take in connection with the Amending Scheme or Final Scheme.