Q. Can I now submit a claim against a Scheme Company?

As per Clause 25 of the HIH Schemes of Arrangement, all Scheme Creditors were required to submit a Final Claim Form for estimation on or before midnight British Summertime on the 2nd of September 2013. Under the terms of the Scheme, the Scheme Administrators cannot admit any further Scheme Creditor claim(s) after this date.

Q. If I have submitted a Final Claim Form how will my claim be determined?

As per Clause 26 of the HIH Schemes of Arrangement, the Scheme Administrators will notify all Scheme Creditor in writing of their determination of any additional Notified Liabilities submitted on a Final Claim Form.

To ensure you receive any related Scheme distributions, it is important that you notify the Scheme Administrator of your acceptance of this determination.

Q. What happens if I do not accept the Scheme Administrators determination?
If you do not accept the Scheme Administrators determination of your additional Notified Liabilities then you need to notify the Scheme Administrators of your rejection and the reasons for this rejection. The Scheme Administrators will consider the basis for your rejection and whether there are further grounds for reaching agreement. The Scheme Administrators will then notify you of their further determination, or else refer the matter to the Scheme Adjudicator.

If the matter is referred to a Scheme Adjudicator, the Scheme Adjudicator will contact you directly.

As per Clause 26.3 of the HIH Schemes of Arrangement, any determination that cannot be agreed between the Scheme Creditor and the Scheme Administrator within three months of issuing of the Scheme Administrators written determination notice, then the matter will immediately be referred to the Scheme Adjudicator. It should be noted that should a Scheme Creditor be unsuccessful in any matter referred to a Scheme Adjudicator then the costs of the Scheme Adjudicator may be borne by the Scheme Creditor.

 

Estimation date.
31 May 2013
The completed Final Claim Form together with all supporting documents must be returned so as to reach the relevant Scheme Company on or before midnight 2 September 2013 (British Summer Time).
 
 
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