NOTICE OF INTENTION TO APPLY TO THE FEDERAL COURT FOR CONFIRMATION OF A SCHEME FOR THE TRANSFER OF THE INSURANCE BUSINESS OF TRAVELERS INSURANCE COMPANY LIMITED TO GORDIAN RUNOFF LIMITED UNDER DIVISION 3A OF PART III OF THE INSURANCE ACT 1973 (CTH).
TAKE NOTICE that Travelers Insurance Company Limited ABN 39 086 441 910 (Travelers) intends to make an application to the Federal Court of Australia in Sydney on 28 August, 2013 at 10:15am, or on such later date or time as the Court appoints, for confirmation of a scheme to transfer the insurance business written or assumed by Travelers in Australia to Gordon RunOff Limited ABN 11 052 179 647 (GRO) (Scheme).
Travelers is a body corporate incorporated in the United Kingdom and registered as a branch insurer in Australia, authorized to carry on general insurance run-off business under the Insurance Act 1973 (Cth) (Act). GRO is a company incorporated in Australia, regulated under the Corporations Act 2001 (Cth) and authorised under the Act to carry on general insurance run-off business in Australia.
Persons who are insured under insurance contracts written or assumed by Travelers in Australia or who may be otherwise affected by the terms of the scheme (Affected Policyholders) may attend the Court hearing and request to be heard by the Court on the application for confirmation of the Scheme. The hearing will be held at the New South Wales Registry of the Federal Court of Australia. Any holder of a Policy who wishes to appear before the Court is requested to advise the solicitor for GRO, Mark Kimberley of HWL Ebsworth, Level 14 Australia Square, 264-278 George Street, Sydney Australia (p: +61 2 9334 8793 or e: mkimberley@hwle.com.au) at least seven days prior to the hearing date specified above. Affected Policyholders are not required to take any action if they have no objection to the Scheme.
A copy of this notice, the Scheme, a Summary of the Scheme and the Actuarial Report by Warrick Gard, FIAA of Ernst & Young dated 20June 2013 (Actuarial Report) upon which the Scheme will be based (Scheme Documents), may be obtained free of charge and will be available for public inspection between the hours of 9.00am and 5.00pm (local time) every day (except weekends and public holidays) for the period commencing on 31 July, 2013 and ending on 20 August, 2013 at:
(a) the offices of Travelers' corporate agent, Enstar Australia Ltd, at Level 9, 220 George Street, Sydney NSW 2000;
(b) the offices of Ernst & Young at the following addresses:
New South Wales | Victoria | Queensland |
Level 33 | Level 23 Ernst and Young Building 8 Exhibition Street | Level 5 Waterfront Place |
Western Australia | South Australia | Australian Capital Territory |
Level 5 Ernst and Young Building 11 Mounts Bay Road | Level 12 Ernst and Young Building | Level 11 |
(c) and at the following addresses:
Tasmania | Northern Territory |
|
Wise Lord & Ferguson | Merit Partners |
|
Any policyholder of Travelers or GRO may also obtain a copy of the Scheme Documents free of charge by contacting Vu Pham on +61 2 8062 4288 or by email at vu.pham@enstargroup.com.au.
If you have any other enquiries you may contact Vu Pham at the contact details referred to above.
A copy of the Scheme Documents can be viewed during the period set out above at the following website:
www.enstardivision3a.com.au/travelers
We recommend that each holder of a Policy obtain and review both the Scheme and the Actuarial Report, which contains a discussion of the impact of the Scheme on policyholders.
THIS NOTICE HAS BEEN PREPARED BY TRAVELERS INSURANCE COMPANY LIMITED
Dated: 23 July 2013.