Notice of Meeting

PRESS RELEASE: IN THE MATTER OF BRITISH-AMERICAN INSURANCE COMPANY LIMITED (JUDICIAL MANAGER APPOINTED)

 

NOTICE IS HEREBY GIVEN that by the Order dated 4 August 2017, the Supreme Court of The Commonwealth of The Bahamas (“the Court”) has directed that a Meeting of Plan Creditors (as defined in the Plan of Arrangement (“the Plan”) referred to below) of BRITISH-AMERICAN INSURANCE COMPANY LIMITED (the “Company”) be convened for the purpose of considering and if thought fit approving (with or without modification) the Plan proposed to be made between the Company and its Plan Creditors and that such Meeting will be held on 21 September 2017 at 10.00 local time (Atlantic Standard Time, GMT-4). The Meeting comprises the Principal Meeting and the Sub-Meetings which will all be classed as one meeting and will be held at the following locations:

Principal Meeting in St Kitts & Nevis:

Eastern Caribbean Central Bank Headquarters, Pond Road, Basseterre, St. Kitts & Nevis, West Indies

Sub-Meetings in Antigua & Barbuda, Grenada and St. Vincent & the Grenadines:

Dean William Lake Cultural Centre, Upper St. John’s Street, St. John’s, Antigua & Barbuda

Grenada National Stadium, Queen’s Park, St. George’s, Grenada

Methodist Church Hall, Grenville Street, Kingstown, St. Vincent & the Grenadines

 

Copies of the Plan and related documents, including a Voting and Claim Form have been sent to all known Plan Creditors. If you believe you are a Plan Creditor but have not received a copy of the Plan and related documents, you can download such documents from the following website: www.kpmg.com/bs/baico or the documents are available for collection from BDO Eastern Caribbean, Top Floor, Morgan Building, L’Anse Road, Castries, Saint Lucia.

Plan Creditors may vote in person at the said Meeting or they may appoint another person, whether a Plan Creditor or not, as their proxy to attend and vote in their stead. Plan Creditors also have the option to appoint the Plan Chairman to vote on their behalf.

If returning the Voting and Claim Form in advance, it is requested that forms be returned to BDO Eastern Caribbean, Top Floor, Morgan Building, L’Anse Road, Castries, Saint Lucia or by email to baicomail@kpmg.com.bs by no later than 17.00 local time (Atlantic Standard Time, GMT-4) on 20 September 2017 (the day prior to the Meeting).

By the said Order the Court has directed that the Chairman of the Meeting shall be Sir Errol Allen, or in his absence Juan M. Lopez, the Judicial Manager of the Company.  The Court has directed the Chairman to report the results of the said Meeting to the Court.

The said Plan will be subject to the Court granting a Sanction Order and then subsequently, the Plan and Sanction Order being filed with the Registrar of Companies.

If you have any questions, please contact 1 855 584 3122 or email baicomail@kpmg.com.bs

DATED this August 17, 2017

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