NOTICE OF INTENTION TO APPLY TO THE FEDERAL COURT FOR CONFIRMATION OF A SCHEME FOR THE TRANSFER OF THE GENERAL INSURANCE BUSINESS OF LONG GROVE INSURANCE COMPANY LIMITED TO GORDIAN RUNOFF LIMITED UNDER DIVISION 3A OF PART III OF THE INSURANCE ACT 1973 (CTH)
TAKE NOTICE that Gordian RunOff Limited ABN 11 052 179 647 (GRO) intends to make an application to the Federal Court of Australia in Sydney at 3:00 pm on 22 November 2016, or on such later date or time as the Court appoints, for confirmation of a scheme to transfer all of the general insurance business of Long Grove Insurance Company Limited ABN 44 001 151 739 (Long Grove) to GRO (the Scheme).
GRO is a company incorporated in Australia, regulated under the Corporations Act 2001 (Cth) and authorised under the Insurance Act 1973 (Cth) (the Act) to carry on general insurance run-off business in Australia. Long Grove 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.
If the Scheme is confirmed, the general insurance business of Long Grove will be transferred to GRO and GRO will be substituted for Long Grove in all insurance contracts written by Long Grove.
Persons who are insured under insurance contracts written by Long Grove (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 Affected Policyholder who wishes to appear before the Court or wishes to object to the terms of the Scheme, 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 Rick Shaw of Deloitte dated 27 June 2016 (the Report) upon which the Scheme will be based (the Scheme Documents), 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 19 October 2016 through to 10 November 2016 (inclusive) at:
(a) the offices of GRO at level 9, 220 George Street, Sydney NSW 2000;
(b) the following offices of HWL Ebsworth:
New South Wales Level 14 Australia Square 264-278 George Street Sydney 2000 New South Wales
| Victoria Level 26 530 Collins Street Melbourne 3000 Victoria | ACT Level 5 HWL Ebsworth Building 6 National Circuit Barton 2600 Australian Capital Territory |
South Australia Level 21 Westpac House 91 King William Street Adelaide 5000 South Australia
| Northern Territory Level 9 Mitchell Centre 59 Mitchell Street Darwin NT 0800 | Queensland Level 19 480 Queen Street Brisbane 4000 Queensland |
Western Australia Level 11 Westralia Plaza 167 St Georges Terrace Perth 6000 Western Australia | Tasmania Level 9 Tasmania |
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Any policyholder of Long Grove or GRO may obtain a copy of the Scheme Documents free of charge by contacting Vu Pham on +61 2 8062 4237 or by email at vu.pham@enstargroup.com.au.
If you have any other enquiries you may contact Mr 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/Longgrove
We recommend that each Affected Policyholder obtain and review both the Scheme and the Report, each of which contains a discussion of the impact of the Scheme on policyholders.
THIS NOTICE HAS BEEN PREPARED BY Gordian RunOff Limited ABN 11 052 179 647
Dated: 11 October 2016