This is a reminder that the bar date for claims against OIC Run-Off Limited (formerly Orion) and London & Overseas Insurance Company Limited ("L&O") is September 12, 2016. Creditors must file their claims by that date in order to secure the potential for recovery under their policies.
The Schemes were previously approved by creditors at the meetings on December 11, 2014, sanctioned by the High Court of Justice in the UK on October 29, 2015, and became effective on January 14, 2016. Orion and L&O have been in run-off since 1994, and the original schemes of arrangement became effective in 1997.
For additional information regarding the unique nature of these schemes, please see
KCIC's Risky Business blog. For additional information relating to the Companies, including the Amending Scheme documents, please see their
website.
Please let us know if you have any questions regarding this notice.
Click here to join the London Market Email Updates List. In addition to general notice, KCIC maintains client policy details to ensure timely identification of applicable coverage and to provide specific guidance as it relates to upcoming vote/bar dates. If you would like us to include your coverage in these reviews, please contact Nick Sochurek at (202) 772-3909 for more details.
Although KCIC actively monitors developments in the market, we cannot guarantee inclusion of all key updates as some are not readily available and/or made public.
