|The Scottish Lion Insurance Company Limited|
Proposals in relation to a solvent scheme of arrangement (the "Scheme") pursuant
to section 895 of the Companies Act 2006
The Company's application to
the Scottish Court of Session, Edinburgh, Scotland ("the Court") for permission
to convene meetings of Scheme Creditors was heard by Lord Glennie on 15
December 2008 at 10am. The application was successful and an Order dated 15
December 2008 was granted.
The meetings of Scheme Creditors (the "Scheme Creditors' Meetings") to consider and, if thought fit, approve the Scheme (with or without modification) were held on 2 March 2009 at 11.00am (London time) at the offices of PricewaterhouseCoopers LLP, 1 Embankment Place, London, WC2N 6RH United Kingdom.
Following the Scheme Creditors’ Meetings and in accordance with the Order dated 15 December 2008, the Chairman of the Scheme Creditors’ Meetings has determined the value to be attributed for voting purposes to each Scheme Creditor's Claim.
Both the report of the Independent Vote Assessor and the report of the Chairman, which includes the result of the Chairman’s determination of the values to be attributed to each Scheme Creditor’s Claim for voting purposes, were lodged in Court and the Company has asked the Court to allow advertisement of the petition to sanction the scheme and to fix the date by which Answers must be lodged. In accordance with an Order dated 29 April 2009 the Company was granted permission to advertise the petition. Any person claiming an interest may have lodged answers to the petition at the Court by 18 June 2009.
The advertisements were placed in the following publications: The Edinburgh Gazette; The Financial Times (United Kingdom and Worldwide editions); The Times (United Kingdom edition); Lloyd’s List; Insurance Day; Post Magazine; The Wall Street Journal (United States Edition); Business Insurance; and the Australian. A copy of the advertisement can be found in the Important Documents section of this website.
Please be advised that at the request of the Company, the Court has dismissed the Company's application for the scheme. Copies of the Court Petition and a letter from the Company's Board have been added to the schedule of important documents.
|By accessing this website, you are
deemed to have read and understood the
|Certain capitalised words and
expressions contained within this Website bear the same meaning as given to
them in the Scheme, unless otherwise stated.
|© 2008 PricewaterhouseCoopers.
All rights reserved.
PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
|The Scottish Lion Insurance
South Inch Business Centre,
Shore Road, Perth,
Registered in Scotland