Notice of Intention to Apply to the Federal Court of australia for Confirmation of Scheme under Division 3A of Part III of the Insurance Act 1973 (CTH) TO TRANSFER THE INSURANCE BUSINESS OF ATRADIUS CREDIT INSURANCE N.V. (aUSTRALIAN BRANCH) TO Compañía Española de Seguros y Reaseguros de Crédito y Caución SOCIEDAD ANONIMA (AUSTRALIAN BRANCH)
Notice is given that Atradius Credit Insurance N.V. ABN 72 099 372 595 (Atradius) proposes to make an application to the Federal Court of Australia seeking confirmation of a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) to transfer all of the insurance business of the Australian branch of ATRADIUS to the Australian branch of Compañía Española de Seguros y Reaseguros de Crédito y Caución Sociedad Anonima ARBN 610 834 556 (CYC).
Each of ATRADIUS and CYC is directly and wholly owned by Atradius Insurance Holding N.V. which itself is indirectly owned by the Spanish insurer Grupo Catalana Occidente, S.A (GCO). GCO is a Spanish listed company and is one of the largest insurers in Spain with a track record dating back 150 years. The scheme is being undertaken as part of a business reorganisation within the group.
The date fixed for the hearing of the application is 25 October 2016 at 10:15am or on such other date as the Court appoints. The hearing will be held at the New South Wales Registry of the Federal Court of Australia which is located at the Law Courts Building, Queens Square, Sydney NSW 2000.
Any policyholder who may be affected by the scheme can ask to be heard by the Court on the application for the confirmation of the scheme.
It is important that policyholders affected by the scheme take notice of the scheme and consider whether they wish to attend the hearing. If a policyholder wishes to be heard at the hearing, it would assist if you let Dean Carrigan of Clyde & Co Australia know (by phone: 02 9210 4400 or email: Dean.Carrigan@clydeco.com) at least 3 days before the date fixed for the hearing.
Copies of this notice, the scheme, a summary of the scheme and the actuarial report upon which the Scheme is based are accessible on https://atradius.com.au/. Copies of the scheme and the actuarial report will also be available for inspection by affected policyholders between 19 September 2016 to 12 October 2016 (inclusive), between 9:00am and 5:00pm (local time) Monday to Friday (other than public holidays) at the following addresses:
New South Wales Atradius Credit Insurance N.V. | South Australia Finlaysons Adelaide SA 5000 |
Victoria Atradius Credit Insurance N.V. Level 13, 470 Collins Street Melbourne VIC 3000 |
Tasmania Dobson Mitchell Allport 59 Harrington Street Hobart TAS 7001 |
Queensland Clyde & Co Australia Level 22, 12 Creek Street Brisbane QLD 4000 |
Australian Capital Territory Chamberlains Law Firm 24 Lonsdale Street, Braddon Canberra ACT 2612 |
Western Australia Clyde & Co Australia Level 28, 197 St Georges Terrace Perth WA 6000 |
Northern Territory MSP Legal 6/32 Marina Boulevard Darwin NT 0820 |
A policyholder affected by the scheme may also obtain a copy of the scheme free of charge by contacting Sharon James, Senior Controller, Atradius Credit Insurance N.V. by calling +61 (02) 9201 2212.
If a policyholder has any questions in relation to the scheme or any information contained in this notice, please contact Sharon James, Senior Controller, Atradius Credit Insurance N.V. by calling +61 (02) 9201 2212.