THE MEDITERRANEAN INSURANCE & REINSURANCE COMPANY LIMITED (“THE COMPANY” or “MEDRE”) – IN ADMINISTRATION
NOTICE OF AN ORDER PRESCRIBING A BAR DATE FOR CLAIMS AT 5PM (LONDON TIME) 30 SEPTEMBER 2019 AND TO CREATE A MECHANISM FOR THE VALUATION OF INCURRED BUT NOT REPORTED CLAIMS
On 14 June 2019, the High Court of Justice Business and Property Courts of England and Wales made an order (“the Order”) prescribing the procedure that shall apply for the purpose of establishing a Bar Date for creditor claims (“the Bar Date”) and a mechanism for valuation of incurred but not reported claims against the Company (together “the Bar Date Claims”).
In accordance with the Order, Steven Edward Butt and Michael David Rollings in their capacity as joint administrators (“the Administrators”) of the Company, intend to make an interim distribution after the Bar Date in accordance with the terms of the Order.
Cedants, reinsurers, brokers and ordinary unsecured creditors (together “the Creditors”) of the Company who have not yet submitted a proof of debt to the Administrators, must submit their claim in writing to be received by the Administrators no later than 30 September 2019 at 5pm (London time) by either email to email@example.com or by post to Rollings Butt LLP, 6 Snow Hill, London, EC1A 2AY, UK.
The Administrators intend to make an interim distribution to the Creditors as soon as practicable after the Bar Date in accordance with the terms of the Order.
Creditors who do not submit a Bar Date Claim by the Bar Date, will not be entitled to share in the any distribution except in the event that they successfully appeal against the Administrators’ adjudication of their Bar Date Claim under the terms of the Order.
Dated 28 June 2019
Michael David Rollings and Steven Edward Butt were appointed as Joint Administrators of The Mediterranean Insurance & Reinsurance Company Limited by order of the High Court on 4 December 2015.
The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.
Steven Edward Butt and Michael David Rollings are licensed to act as insolvency practitioners in the UK by the Insolvency Practitioners Association.
The Mediterranean Insurance & Reinsurance Company Limited is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority, reference number 202239. The Company Number is 01395873 and the registered office is 6 Snow Hill, London, EC1A 2AY.