Stronghold Sets Initial 25% Dividend
On August 29, scheme administrators for the Stronghold Insurance Company Limited declared an initial 25% dividend for direct scheme creditors with agreed claims. Payments were scheduled to be made in early September (and may already have been received). The scheme administrators anticipate resolving the remaining outstanding claims and declaring the final dividend by the end of 2023.
Stronghold has been in run-off since 1985 and was declared insolvent and placed in administration on June 27, 2019, following a failed solvent scheme of arrangement bid. All business included in the Direct Scheme was written under the Stronghold name. The final claims bar date was August 10, 2021. For more information, please see PWC’s Stronghold website.
Home Declares Additional 10% Dividend
The liquidator for the Home Insurance Company declared an additional 10% dividend on August 16th, bringing the total dividends for allowed claims up to 40% for direct policyholders. Prior to issuing payments, the liquidation staff will be requesting confirmation of addresses by email or mail to confirm where payments should be sent.
Home was ordered into liquidation in New Hampshire in 2003 and the initial proof of claim filing deadline was 2004. The final claims amendment deadline was January 26, 2023. The liquidator is in the process of agreeing to claims and continuing the collection of assets. For more information, please see the Home liquidation website.
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Nick Sochurek has extensive experience in leading complex insurance policy reviews and analysis for a variety of corporate policyholders using relational database technology.Learn More About Nicholas