DLA Piper LLP - 160 Aldersgate Street - London EC1A 4HT - Solicitors to Bothnia International Insurance Company Limited.
IN THE HIGH COURT OF JUSTICE CHANCERY DIVISION COMPANIES COURT BASLER VERSICHERUNG AG - and - BOTHNIA INTERNATIONAL INSURANCE COMPANY LIMITED - and - IN THE MATTER OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
NOTICE IS HEREBY GIVEN that on 13 August 2020, Bothnia International Insurance Company Limited (“Bothnia”) and Basler Versicherung AG (“Baloise”) applied to the High Court of England and Wales (the “Court”) for an Order under Section 111(1) of the Financial Services and Markets Act 2000 (“FSMA”) sanctioning a scheme (the “Scheme”) providing for the transfer of the UK general insurance and reinsurance business of Baloise (save for certain limited exceptions) (the “Transferring Business”) to Bothnia and making ancillary provisions in -connection with the Scheme under Sections 112 and 112A of FSMA (the “Application”).
The Scheme will result in the Transferring Business which is currently being carried on by Baloise being carried on by Bothnia.
Copies of the report on the terms of the Scheme prepared by an Independent Expert in accordance with section 109(1) of FSMA and of a statement setting out the terms of the Scheme and containing a summary of the independent expert’s report, and a copy of the full Scheme document, may be obtained free of charge on the dedicated website for the Scheme at https://Compre-Group.com/notices/--Basler-Versicherung-AG. Supporting documents and any further news about the Scheme will be posted on this website so you may wish to check for updates. You can also request free copies of any of these documents by contacting Baloise and Bothnia using the telephone number or addresses set out below.
All questions or concerns relating to the Scheme should be referred to Baloise and Bothnia using the following telephone number, address or website:
Telephone: 0203 551 6524 within the UK, or, if calling from overseas,
+44 (0)203 551 6524. The lines are open from 9:00 to 17:30 (UK time) on Monday to Friday.
Address: 5th Floor, 2 Seething Lane, London, EC3N 4AT
The Application is expected to be heard on 14 December 2020 by a Judge of the Chancery Division of the Court at The Rolls Building, Fetter Lane, London,
EC4A 1NL. If approved by the Court, it is currently proposed that the Scheme will take effect on 18 December 2020. In light of the current government guidelines regarding Covid-19, please note that it is possible that the hearing may take place remotely via Skype or another teleconferencing service. It is requested that if anyone intending to attend the hearing (whether in person or via a representative), informs the Transferor and the Transferee in writing via the contact details set out above as soon as possible and preferably before 1 December 2020 and set out the nature of any objection they may have. This will enable the Transferor and the Transferee to provide notification of any changes to the hearing (including any details that are necessary to attend the hearing remotely) and, where possible, to address any concerns raised in advance of the hearing.
Any person (including any policyholder of Baloise or Bothnia) who believes that he or she would be adversely affected by the carrying out of the Scheme is entitled to either make written representations or be heard (either in person or by a legal representative) at the hearing of the Application on 14 December 2020. Anyone wishing to do so is asked to give notice of such intention as soon as possible and preferably by 1 December 2020, setting out the grounds of their objection or why they consider they may be adversely affected, by writing to the address or email address above.
If the Scheme is sanctioned by the Court, it will result in the transfer of all the contracts, property, assets and liabilities relating to part of the UK general insurance and reinsurance business of Baloise to Bothnia; notwithstanding that a person would otherwise be entitled to terminate, modify, acquire or claim an interest or right or to treat an interest or right as terminated or modified in respect thereof. Any such right will only be enforceable to the extent the order of the Court makes provision to that effect.