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OIC Run-Off Limited
United Kingdom


Address: 10-18 Union Street, London, SE1 1SZ
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Last modified: 2014-07-23


Advertiser of Maritime Market magazine in issues: 47, 55

Main activities:

NOTICE OF PROPOSED AMENDING SCHEME OF ARRANGEMENTIN THE MATTERS OF
OIC RUN-OFF LIMITED (formerly Ralli Brothers Insurance Company Limited and The Orion Insurance Company plc) and THE LONDON AND OVERSEAS INSURANCE COMPANY LIMITED (formerly Hull Underwriters Association Limited and The London and Overseas Insurance Company plc)
(BOTH SUBJECT TO A SCHEME OF ARRANGEMENT) (TOGETHER THE COMPANIES)

On 7 March 1997 the Companies, which are insolvent, became subject to a scheme of arrangement (the Original Scheme). The current Scheme Administrators are Dan Schwarzmann and Paul Evans, both of PricewaterhouseCoopers LLP. The Companies have been developing an amending scheme of arrangement under Part 26 of the Companies Act 2006 (the Amending Scheme). If you believe that you are, or may be, a creditor of one or more of the Companies (a Scheme Creditor) you may be affected by the proposed Amending Scheme. The Original Scheme is a reserving scheme of arrangement under which the Companies continue to agree Scheme Creditors claims in the ordinary course of business. The Amending Scheme would convert the Original Scheme to a crystallisation scheme of arrangement under which Scheme Creditors claims, including notified outstanding liabilities and incurred but not reported claims, would need to be submitted to the Companies by a specified bar date. The primary objective of the Amending Scheme is to enable Scheme Creditors claims to be valued and the Companies assets to be distributed to Scheme Creditors earlier than would be the case under the Original Scheme. This Notice informs you of:
(a) the Scheme Administrators decision to propose the Amending Scheme;
(b) the Scheme Administrators intention to apply to the High Court of Justice at the Royal Courts of Justice, 7 Rolls Building, Fetter Lane London EC4A 1NL, for a Court hearing (the Court Hearing) for permission for the Companies to convene the necessary meetings of Scheme Creditors to consider and, if thought appropriate, approve (with or without modification) the Amending Scheme; and
(c) the place where you can locate details of the composition of the meetings of Scheme Creditors which the Companies propose to convene for the purpose of voting on the Amending Scheme. Information on the proposed classes of Scheme Creditor, as well as other important information in relation to the Amending Scheme, can be found in the Practice Statement Letter which is available on the Companies website at www.oicrun-offltd.com. The date, time and location of the Court Hearing will also be confirmed on the website once known.If you are a broker, agent or other intermediary who has acted on behalf of Scheme Creditors in placing business with one or more of the Companies and you have not provided detailed policyholder contact information to them, please forward this notice to your clients. Alternatively, please provide us with your clients names and addresses so we can write to them directly.Certain policyholders may have a policy written through a broker facility (which includes brokers covers, broker lineslips and binding authorities) and may not know the identity of the insurance company. The principal known broker facilities are listed below and a full list of known broker facilities is available on the Companies website.
A.B.C. Excess (Aircraft Builders Council)
A.B.C. Master Agreement (Aircraft Builders Council)
A.I.A.A. Aviation Excess of Loss Reinsurance Agreement (American International Aviation Agency Inc)
Alexander Howden Reinsurance Brokers Limited Marine Excess of Loss Pool
C.T. Bowring & Co Aviation Liability Line Slip (B500 Contract)
C.T. Bowring General Non Marine Master Cover
C.T. Bowring Marine Master Cover
Hull & Co (UK) Ltd Line Slip HC.013
London Special Risks Liability Line Slip No. LSR056
Price Forbes Brokers Cover
Price Forbes Line Slip
Sedgwick Collins Lloyds Brokers Line Slip
Sedgwick Offshore Resources Master Drilling Rig Line Slip (M.D.R.C)
Steel Burrill Jones Oil & Gas Line Slip
Willis Faber & Dumas Brokers Line Slip
FURTHER INFORMATION CAN BE OBTAINED BY CONTACTING THE COMPANIES AS FOLLOWS:
By Post
:Armour Risk Management Limited, 4th Floor, 20 Old Broad Street, London EC2N 1DP, United Kingdom, marked for the attention of Andrew Jones
By e-mail:OICClosureHelpdesk@armourrisk.com
By phone:+44 (0) 20 7382 2020
By fax:+44 (0) 20 7382 2001




Please contact us if you require further information about press release and advertising publishing on our web site.
Phone: +7 (812) 336 3130, e-mail: info@setcorp.ru

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