In the last update (date 13 March 2019) we reported that, with the support of the GFSC and the Supreme Court of Gibraltar, a court order was handed down on 31 January 2019 that allowed Elite to take steps to design and implement a scheme of arrangement (the Scheme) under Part VIII of the Companies Act 2014.
Elite have now provided an update on the Scheme on their website and a link to a letter dated 4th June 2019 sent to known or potential creditors, brokers, coverholders and agents who have placed business with Elite Insurance explaining the Scheme in more detail. A copy of the letter can be found here. Elite remains in run-off and continues to be solvent and pay valid claims in full as they are agreed and fall due.
Policyholders and creditors of Elite should direct any questions regarding the scheme or 4th June 2019 letter to:
UK and other creditors: +44 (0)207 382 5467
French creditors: +33 (0)1 76 77 45 12
Italian creditors: +39(0)2 30 35 30 00
UK & Ireland and other creditors: Eliteemail@example.com
French creditors: Elitefirstname.lastname@example.org
Italian creditors: Eliteemail@example.com
For any enquiries related to the GFSC, please contact firstname.lastname@example.org