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Tokio Marine Europe Insurance Limited (TMEI)

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  General FAQs

Frequently Asked Questions

1 What is a Scheme of Arrangement?

2 What is the current timetable of key elements?

3 What action should I take now?


1 What is a Scheme of Arrangement?

A scheme of arrangement of the type implemented by TMEI is a compromise or arrangement provided by Part 26 of the Companies Act 2006, to take effect between a company and its creditors (or any class of them). Such a scheme of arrangement becomes legally binding on the company and on all the creditors to whom it applies if:

  • a majority in number representing not less that 75% in the value of each class of creditors, present and voting in person or by proxy, vote in favour of it at meetings convened by the permission of the Court;


  • the Court subsequently makes an order sanctioning the scheme;


    • and a copy of the order of the Court to that effect is delivered to the Registrar of Companies in England and Wales.

    Subject to the TMEI Scheme becoming effective, it will bind TMEI's Scheme Creditors irrespective of whether and how they voted at the Meeting.

    2 What is the current timetable of key elements?

    Scheme Effective Date - 15 April 2011

    Bar Date - 12 October 2011

    The Claim Form and supporting evidence must be received by the Scheme Manager (contacts) by no later than the Bar Date, after which no new or revised Claim Form will be admitted. The Bar Date is 11.59 pm, London Time on 12 October 2011.

    3 What action should I take now?

    If any potential Scheme Creditor has any concerns or questions, they should contact PRO (in accordance with the details on the Contacts page) as soon as possible.

    Information on how to complete your Claim Form can be found under the heading “Return of Claim Forms” below.

    Return of Claim Forms

    For each Scheme Creditor of which it is aware, the Scheme Manager has prepared a Claim Form. Included with the Claim Forms are the details it has of: (1) each Scheme Reinsurance Contract of which it is aware and which may give rise to a Scheme Claim; and (2) any Unpaid Agreed Claims of which it is aware arising under such Scheme Reinsurance Contracts.

    If you would like to submit a Scheme Claim, please refer to the Claim Form and the instructions and notes forming part of it carefully before completing and submitting your Claim Form.

    The Claim Form can also be supplied electronically in Microsoft Excel format by the Scheme Manager. Scheme Creditors are strongly encouraged to request this and to enter their policy and claims data on the Excel spreadsheet, where possible, because this should be easier than entering such data on the paper spreadsheet. Alternatively, a blank copy of the Claim Form can be downloaded from Important Information.

    Claim Forms may be submitted by completing and returning a Claim Form, together with the evidence supporting your Scheme Claim, to the Scheme Manager by e-mail, post or fax. Where e-mail is used, the Claim Form must be sent in pdf or tif format showing a scanned image of the completed Claim Form (although the completed policy schedule showing which policies you are asserting Scheme Claims against may be attached as an Excel spreadsheet). Forms sent by e-mail or fax will only be accepted if they are legible.

    The Claim Form and supporting evidence must be received by the Scheme Manager (contacts) by no later than the Bar Date, after which no new or revised Claim Form will be admitted. The Bar Date is 11.59 pm, London Time on 12 October 2011.

    Scheme Creditors should note that any estimates of the value of their Scheme Claims made on, and evidence provided in connection with, a Claim Form may not be protected by privilege and may be discoverable, for example on the application of a third party with a claim against the Scheme Creditor, in any action or proceedings to which the Scheme Creditor might be a party. Scheme Creditors should consult their own professional advisers as to the consequences of furnishing such particulars.

    Please check this site for further updates. Meanwhile, please contact the Scheme Manager if you have any queries.

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    Registered Office: Tokio Marine Europe Insurance Limited, 60 Gracechurch Street, London, EC3V 0HR
    Registered No:      989421