Effective date of scheme: |
18 March 1993 |
Effective date of amending scheme: |
16 December 2003 |
Date of insolvency: |
23 March 1992 |
Type of appointment: |
Scheme of Arrangement |
Appointment holders: |
Paul Evans (Scheme Administrator) |
Financial information: |
Last accounts filed 31 December 2006 |
Current payment percentage: |
76.75% (final) |
Key contacts: |
Ed Barron |
Company background |
Trinity Insurance Company Limited ("Trinity") was incorporated on 7 January 1956 and is a wholly owned subsidiary of Trinity Insurance Group Limited which in turn is a wholly owned subsidiary of GFA International Limited (In Liquidation).Trinity wrote direct Fire and Accident, Marine and Aviation and Reinsurance, representing approximately 50%, 20% and 30% respectively of Trinity's 1991 gross written income. Trinity ceased to write new business in January 1992. Richard Boys-Stones and Colin Bird were appointed Joint Provisional Liquidators on 23 March 1992. A Scheme of Arrangement became effective on 18 March 1993 and an Amending Scheme of Arrangement ("the Amending Scheme") (designed to bring the run-off to an earlier conclusion than would be the case if the natural run-off were to continue) was approved by Trinity's scheme creditors and became effective on 16 December 2003. A thirteenth and final distribution of 6.75% was made to Scheme Creditors in June 2007, bringing the total distribution to 76.75%. |
Planned approach/Next steps: |
The Scheme of Arrangement terminated on 10 February 2010 when the company was wound up by an Order of The Court. The Official Receiver was appointed as liquidator at that time. |
Information correct as at: August 2010
For further information about our services or if you would like one of our professionals to contact you, please email us.
Restructuring and Insolvency Partner, UK Head of Insolvency, PwC United Kingdom
Tel: +44 (0)7974 332659
Carla Matthews
Partner - Head of Contentious Insolvency & Asset Recovery, PwC United Kingdom
Tel: +44 (0)7483 365547