Dai Ichi Kyoto Reinsurance Company SA
| Date of insolvency: | 14 December 1995 |
|---|---|
| Type of appointment: | Compulsory Liquidation |
| Appointment holders: | Paul Evans Mark Batten |
| Financial information: | Last accounts filed 31 December 1993 |
| Final payment percentage: | N/A |
| Key contacts: |
Nigel Rackham |
Company background: |
Dai Ichi Kyoto Reinsurance Company SA is a Belgian reinsurer that wrote business between 1991 and 1995. A substantial amount of its business was transacted through a UK agent, CRM Insurance Services. Following growing speculation about its solvency and the identity of its parent, a Curator was appointed to the company by the Belgian Commercial Court on 23 November 1995. On 14 December 1995 Provisional Liquidators were appointed in the UK. The company was wound up in the UK on 24 January 1996. The Liquidators finalised the collection of assets and realised some £515,000. On 2 June 2003 the Liquidators obtained approval from the High Court to repatriate surplus funds to the Belgian Curator. The final creditors' meeting was held on 17 June 2003 at which time the Liquidators also obtained their release. The surplus funds were repatriated to the Belgian Curator in November 2003. |
Next steps: |
PwC’s role in respect of these estates was to collect in the assets. PwC have now concluded their role and funds have been passed to the Belgian liquidator. Despite the liquidation remaining open, there will be no further distribution to creditors. The Belgian liquidators' details are as follows: Jean Michel Derick |
Information correct as at: |
May 2012 |
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