This is a reminder that the creditors' meetings to vote on the proposed Stronghold Insurance Company Limited solvent scheme of arrangement are set for February 20th in London. Voting and proxy forms must be received by Stronghold by 5PM London time on February 19th. There will be two meetings: one for creditors with Notified Outstanding Liabilities and a separate one for creditors with IBNR Liabilities.
Stronghold has been in run-off since 1985. Since 2016, it has failed to meet the new Solvency II capital requirements and stated its belief in a letter to creditors that a scheme of arrangement is in the best interests of both Stronghold and its policyholders. For more information, see Jonathan Terrell's analysis of Stronghold's financial position and our blog on Solvency II's impact on the run-off market. For copies of the proposed scheme and voting documents, see Stronghold's website.
Please let us know if you have any questions regarding this notice.
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