RNICE considers scheme of arrangement
Reliance National Insurance Company has been granted leave by the English Court to convene a meeting of its creditors for the purposes of considering a solvent Scheme of Arrangement. The Scheme has been developed in conjunction with advisors KPMG and law firm Freshfields Bruckhaus Deringer.
On Tuesday 4 October, the Court ordered RNICE to conduct a single meeting of one class of creditor, which will take place on 2 February 2006.If approved by the requisite majorities of creditors
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