IN THE MATTER OF BRITISH-AMERICAN INSURANCE COMPANY LIMITED (“BAICO”) (JUDICIAL MANAGER APPOINTED)
Due to the likely impact of Hurricane Maria on the infrastructure in the Eastern Caribbean and also the impact on Plan Creditors ability to travel, the Chairman, in consultation with the Judicial Manager has reluctantly taken the decision to postpone the Meeting of Plan Creditors (as defined in the Plan of Arrangement (“the Plan)) scheduled to take place on 21 September 2017 at 10.00 local time (Atlantic Standard Time, GMT-4). This is in accordance with the ‘Adverse Weather Contingency’ provisions set out on page 35 of the Plan document.
The Meeting comprises the Principal Meeting (in St. Kitts & Nevis) and the Sub-Meetings (in Antigua & Barbuda, Grenada and St. Vincent & the Grenadines) and has been postponed in all locations.
The Meeting (comprising the Principal Meeting and Sub-Meetings) will be reconvened on a date to be determined by the Judicial Manager in consultation with the Chairman which will be notified to Plan Creditors.
The Judicial Manager is currently checking the availability of the Chairman and the venues for the reconvened Meeting. The notice to be sent to Plan Creditors will contain the date of the reconvened Meeting and will also confirm the addresses of the reconvened Meeting. The structure of the Meeting will be unaltered, with a Principal Meeting to be held in St. Kitts & Nevis and Sub-Meetings held in Antigua & Barbuda, Grenada and St. Vincent & the Grenadines. The Principal Meeting and Sub-Meetings will be classed as one Meeting. The venues of the Principal Meeting and Sub-Meetings are likely to remain the same but until the impact of Hurricane Maria is known the addresses cannot be confirmed.
Plan Creditors who have filed Voting and Claim Forms will be entitled to rely on those for the purpose of the reconvened Meeting, unless you wish to amend, in which case the guidance notes attached to the Voting and Claim Forms will apply. If you are returning your Voting and Claim Form in advance, the deadline is extended to 17.00 local time (Atlantic Standard Time, GMT-4) the day prior to the reconvened Meeting which will be confirmed in the notice sent to Plan Creditors.
In all other respects the notice and conduct of the reconvened Meeting shall be in the same terms and manner as provided for the Meeting.
If you have any questions, please contact one of the helplines listed in the Plan Document or email baicomail@kpmg.com.bs
DATED 18 September 2017
