Kobe Reinsurance SA
| Date of insolvency: | Provisional Liquidation - 14 December 1995 Compulsory Liquidation - 24 January 1996 |
|---|---|
| Type of appointment: | Provisional Liquidation/Compulsory Liquidation |
| Appointment holders: | Paul Evans Mark Batten |
| Financial information: | Last accounts filed 31 March 1993 |
| Final payment percentage: | N/A |
| Key contacts: | Nigel Rackham PricewaterhouseCoopers LLP Plumtree Court London EC4A 4HT Tel: + 44 (0) 20 7212 6270 |
Company background: |
Kobe Reinsurance SA ("Kobe") is a Belgian reinsurer which wrote business between 1991 and 1995. A large 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 16 November 1995. On 14 December 1995 Provisional Liquidators were appointed in the UK. Liquidators were subsequently appointed in the UK on 24 January 1996. The Liquidators finalised the collection of assets and realised some £669,000. 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 and the Liquidators obtained their release on the same day. 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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