OIC Run-Off Limited (OIC) and The London and Overseas Insurance Company Limited (L&O) are insurance companies incorporated in England. They are referred to as the ‘Companies’. Both Companies ceased writing new business in 1992 and have since been managing claims under UK Court approved Schemes of Arrangement.
The Scheme Administrators of the Companies are satisfied with the overall response of Scheme Creditors to the Early Final Dividend Offer. Accordingly, the Scheme Administrators hereby issue this Notice of Effect and the Early Final Dividend Offer is now binding on all Eligible Scheme Creditors who have accepted it. Payments will commence shortly, subject to compliance with applicable financial sanctions requirements.