Q. What is the current status of the Group?
82 Australian companies in the Group were placed into Liquidation. At present, we have completed the liquidation of 64 Australian companies.

The eight formerly licensed Australian insurance companies in the Group adopted Schemes of Arrangement in 2006. These companies also remain in liquidation in Australia. While the Scheme Administrators handle the affairs of the Scheme Creditors, the Liquidators continue to pursue and manage the other issues of the Group.

A full list of the companies in liquidation can be found in the HIH Group tab and Contact details for the companies in the Contact Us tab.
Q. What is the current status of the Scheme?
The Schemes of Arrangement transitioned from the Run-Off Period to the Estimation Period on 31 May 2013. The purpose of the Estimation Period is to enable the Scheme Administrators and Scheme Creditors to agree a f inal value for any open claims and any IBNR (claims that have been incurred but not reported) in order to determine the final financial position between the Scheme Creditors and the relevant Scheme Companies.

Details of the current estimated Scheme Payment Percentages are shown on the Home and Financials Page.
Q. When are the Schemes of Arrangement expected to terminate?
The Schemes shall terminate 12 months after the final Payment Date or if all Liabilities have been discharged in full.

It is not possible to reliably estimate at this stage when the final Scheme Payment would be made as it is wholly dependent on the timing of agreement of final claims.

Details of the Scheme Administrators' latest estimates of the final Scheme Payment Percentages can be found in the Home page. Creditors will be notified each time a further Scheme Payment is made.
 
 
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