Petitions to Transfer Business

The City of Westminster-0.11371651.514145WC2A 2LLFinancial Services and Markets Act 20002005-07-272002-10-012005-05-252005-06-10WC2A2LLTSO (The Stationery Office), St Crispins, Duke Street, Norwich, NR3 1PD, 01603 622211, customer.services@tso.co.uk66692614/9

Petitions to Transfer Business






Transfer of Insurance Business pursuant to section 108 (3) of the

Financial Services and Markets Act 2000

Notice is hereby given that Bestpark International Limited (the “Transferor”) applied to the High Court of England and Wales on 25 May 2005, pursuant to section 107 (1) of the Financial Services and Markets Act 2000 (the “Act”), for an Order sanctioning the transfer to Kobstaedernes Forsikring (the “Transferee”) of the Transferor’s book of latent defects insurance business protecting policyholders in Denmark (the “Business”).

The Business was written as follows:

(a) By Fionia, as underwriting agent for the Transferor, under its reference 10148/00 in respect of properties and reference 10341/00 in respect of apartments;
(b) By Mr Meyendorff, as underwriting agent for the Transferor, in respect of business written from 1 October 2002 under the reference 10288/02 (the Transferee having previously written the account); and
(c) By Mr Meyendorff, as underwriting agent for the Transferor, under the reference 10366/02 in respect of apartments.

The Financial Services Authority (“FSA”) has approved Mr John O’Neill of Mazars, as independent expert in respect of the Scheme pursuant to s.109 (2) (b) of the Act. It has also approved the form of Mr O’ Neill’s Scheme Report pursuant to s. 109 (3) of the Act. The Scheme Report concludes that policyholders will not be adversely affected by the transfer. A copy of the full Scheme Report can be obtained from Mr Flemming Meyendorff at Strandvejen 203, DK-2900, Hellerup, Denmark. Alternatively, it may be viewed and downloaded from www.clydeco.com/BIL/KAB/Scheme. General queries should be directed to Mr Flemming Meyendorff at the address stated above.

The Proposed Transfer will secure the continuation by or against the Transferee of any legal proceedings by or against the Transferor that relate to the Business referred to above. All claims currently being dealt with by or on behalf of the Transferor would, after the proposed transfer, be handled by Mr Meyendorff on behalf of the Transferee. Future claims arising under the transferred policies would be similarly dealt with by Mr Meyendorff on behalf of the Transferee.

Any person (including an employee of the Transferor or the Transferee) who considers that he would be adversely affected by the carrying out of the scheme is entitled to be heard by the Court pursuant to section 110 (b) of the Act. The application will be heard on 27 July 2005 at the Companies Court, Royal Courts of Justice, Strand, London WC2A 2LL.