Welcome to Stronghold Insurance Company Limited (in Administration).
This website has been established in order to communicate with Stronghold’s Creditors. The Administration tab contains all such communications and these are available to download and print. Listed below are some key dates in the progress of the Administration. These will be updated when further dates are known.
10 August 2021 – Direct Scheme Claims must be submitted no later than 11:59pm (London Time) on 10 August 2021.
11 February 2021 – The Effective Date in respect of the Direct and General Schemes is 11 February 2021.
10 February 2021 – The Court sanctioned both the Direct and General Schemes at a hearing that took place at 10:30am (London Time) via Microsoft Teams.
2 February 2021 – Direct Scheme Creditors voted in favour of the Direct Scheme.
2 February 2021 – General Scheme Creditors voted in favour of the General Scheme.
2 February 2021 – Scheme Meetings took place at 10:00am (London Time) via Webinar hosted by Clifford Chance LLP.
1 February 2021 – Voting Form Submission Deadline by no later than 5:00pm (London Time).
19 January 2021 – Joint Administrators’ progress report from 27 June 2020 to 26 December 2020 sent to Creditors.
16 December 2020 – Letters including the Explanatory Statement, Scheme Document, Estimation Guidelines, Notice of Scheme Meetings and Voting Form sent out to all known Direct and General Scheme Creditors in accordance with the terms of the Court Order.
16 December 2020 – The Court granted Stronghold permission to convene two meetings for both Direct and General Scheme Creditors to vote on the Scheme.
16 December 2020 – Court Hearing of the Joint Administrators’ application for permission to call meetings of Direct and General Scheme Creditors to consider and vote upon the scheme took place via Skype.
16 November 2020 – Practice Statement Letters sent to both Direct and General Scheme Creditors including notice of the Convening Hearing.
17 July 2020 – Joint Administrators’ progress report from 27 December 2019 to 26 June 2020 sent to Creditors.
20 January 2020 – Joint Administrators’ progress report from 27 June 2019 to 26 December 2019 sent to Creditors.
23 October 2019 – Chapter 15 Recognition Order obtained from the United States Bankruptcy Court Southern District of New York.
4 September 2019 – The Joint Administrators’ Proposals were approved by the Creditors.
9 August 2019 – Joint Administrators’ Proposals for achieving the purpose of Administration sent to all Creditors.
27 June 2019 – Dan Yoram Schwarzmann and Douglas Nigel Rackham have been appointed as Joint Administrators and Joint Scheme Administrators of Stronghold Insurance Company Limited to manage its affairs, business and property as agents and without personal liability. Dan Yoram Schwarzmann and Douglas Nigel Rackham are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants in England and Wales.
The Insurers (Reorganisation and Winding Up) Regulations 2004 apply to Stronghold Insurance Company Limited. The effect of these regulations is that direct insurance creditors have priority over other classes of unsecured creditors, including cedants.
The Joint Administrators are bound by the Insolvency Code of Ethics which can be found at: https://www.gov.uk/government/publications/insolvency-practitioner-code-of-ethics.
The Joint Administrators and Joint Scheme Administrators may act as controllers of personal data as defined by UK data protection law depending upon the specific processing activities undertaken. PricewaterhouseCoopers LLP may act as a processor on the instructions of the Joint Administrators and Joint Scheme Administrators. Personal data will be kept secure and processed only for matters relating to the Joint Administrators’ and Joint Scheme Administrators’ appointment. Further details are available in the privacy statement on the PwC.co.uk website or by contacting the Joint Administrators and Joint Scheme Administrators.