Petitions to Transfer Business
IN THE HIGH COURT OF JUSTICE
CHANCERY DIVISION
COMPANIES COURT
NO. 1128 of 2006
In the Matter of
NRG FENCHURCH INSURANCE COMPANY LIMITED
and
In the Matter of
NRG LONDON REINSURANCE COMPANY LIMITED
and
In the Matter of
THE FINANCIAL SERVICES AND MARKETS ACT 2000
Notice is hereby given that NRG Fenchurch Insurance Company Limited (“ NRG Fenchurch ”) and NRG London Reinsurance Company Limited (“ NRG London ”) presented an application to the High Court of England and Wales (the “ Application ”) pursuant to Part VII of the Financial Services and Markets Act 2000 (the “ FSMA ”) for an order:
(1) | under section 111 of the FSMA sanctioning the scheme (“ Scheme ”) for the transfer to NRG London of the direct and facultative reinsurance business (the “ Transferring Business ”) effected and/or carried out by NRO Fenchurch in the United Kingdom; and |
(2) | under section 112 of the FSMA making ancillary provisions to implement the Scheme. |
A copy of the report (the “ Report ”) prepared by an independent expert, Mr David Slater of Watson Wyatt, Fellow of the Institute of Actuaries, in pursuance of section 109 of the FSMA and of a statement setting out the terms of the Scheme and a summary of the Report will be made available free of charge to anyone requesting such copies by contacting Mrs Pat Henley, by telephone on +44 (0)1233 722600, by email to part7.transfer@nrgv.co.uk or in writing to NRG Fenchurch’s head office at 5th Floor West, Charter House, Park Street, Ashford, Kent, TN24 8EQ, from the date of publication of this notice until the date on which the Application will be heard before the Court
All claims currently being dealt with by or on behalf of NRG Fenchurch will, after the proposed transfer be handled by or on behalf of NRG London. Future claims arising under the Policies comprised in the Transferring Business will be similarly dealt with by or on behalf of NRG London. The proposed transfer will secure the continuation by or against NRG London of any legal proceedings by or against NRG Fenchurch that relate to the rights and obligations in respect of the Transferring Business of NRG Fenchurch.
The Application is directed to be heard before a Judge of the Chancery Division at the Royal Courts of Justice, The Strand, London, WC2A 2LL on 22 May 2006 and any person, including any employee of NRG Fenchurch and NRG London, who claims to be adversely affected by the carrying out of Scheme may appear at the time of the hearing in person or by Counsel. Any person who intends so to appear, and any policyholder of NRG Fenchurch and NRG London who dissents from the Scheme but does not intend so to appear, should give not less than two clear days prior notice in writing of such intention or dissent, arid the reasons therefore, to the Solicitors named below.
Dated this 3rd day of March 2006
Clifford Chance Limited Liability Partnership of 10 Upper Bank Street, London E14 5JJ
Solicitors of NRG Fenchurch Insurance Company Limited and NRG London Reinsurance Company Limited
(Attention: Ref: GXB/TACP/70-40006486)