Latest News

Independent Insurance Company Limited (In Scheme of Arrangement) - Latest news
The Scheme Administrators had hoped that they may be in a position to declare a first and final dividend by the end of the first quarter of 2017, subject to external clearances. The required clearances are still to be received but are anticipated shortly and it is expected that the dividend will be paid by the end of April 2017.

Please refer to the Documents and Key Dates section for further information.

All capitalised terms on this website have the same meaning as given to them in the Scheme. The Company went into Provisional Liquidation on 17 June 2001 and has not written any insurance business since then. Prior to 17 June 2001, the Company wrote general insurance and reinsurance business mainly covering liability, property, motor and other insurance for the commercial and personal lines sectors.

Following meetings of Scheme Creditors on 1 June 2015, the Scheme was sanctioned by the High Court of Justice of England and Wales by an Order dated 9 July 2015. The Order of the High Court was lodged with the Registrar of Companies and the Scheme became effective on 13 July 2015. The Scheme Administrators are Mark Batten and Dan Schwarzmann of PricewaterhouseCoopers LLP. The Bar Date for submitting claims into the Scheme was 11 January 2016 and has now passed. The Scheme Administrators are currently reviewing the claims that have been submitted. The Scheme Administrators currently estimate that a dividend distribution may be made in the first quarter of 2017 and a further update on this estimated timescale will be provided nearer the time.

The FSCS has now taken over complete responsibility of all FSCS Protected Claims from 11 January 2016. The FSCS have awarded the contract for the handling of FSCS Protected Claims to Capita. For any queries regarding Protected Claims, please contact: Capita Insurance Services Limited Churchgate House 5th Floor Oxford Road Manchester M1 6EU Telephone Number: 0161 274 8600 Email: iicl@capita.co.uk.

Capita will continue to agree and process scheme claims (non FSCS Protected) against the IICL Estate on behalf of PwC. For any queries relating to the IICL Estate Scheme of Arrangement, please contact: IICL – SOA PO Box 5456 Manchester M61 0LE Telephone Number: 0161 274 8837 Email: iiclscheme@capita.co.uk

Please refer to the Documents and Key Dates section for further information.