London United Investments plc

Date of insolvency: 22 May 1990
Type of appointment: Administration/Company Voluntary Arrangement
Appointment holders: Mark Batten
Nigel Rackham
Financial information: No financial information is available
Current payment percentage: 38%
Key contacts: Robert Kingdom
PricewaterhouseCoopers LLP
Plumtree Court
Tel: + 44 (0) 20 7804 4340

Company background:

London United Investments plc ("LUI") is an insurance holding company with a network of over 40 companies in various jurisdictions including the United Kingdom, the United States, Bermuda and Barbados. Included within the group are the KWELM insurance companies, currently subject to a Scheme of Arrangement. When it became likely that no further dividends would be payable to LUI by its subsidiaries, the directors of LUI passed a resolution on 22 May 1990 stating that they wished to make an application for an administration order pursuant to section 8 of the Insolvency Act 1986. Total dividends of just over 38% have been declared and paid to date.

Next steps:

Whilst no further dividends are now anticipated, subject to no value being received from the KWELM Insurance companies the case will be formally closed.

Information correct as at: August 2010

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