Quincy Mutual Fire Insurance Company
This thought to be the first solvent Scheme of Arrangement for a UK branch of a US corporation. The case was managed out of London. The application was approved on behalf of the US based Company for a formal order to establish the solvent scheme which related to the company’s London operations. It successfully allowed the US insurer to close down its UK business despite having written policies that would have taken 20 years to finalise without the use of the Scheme.