Edwards Wildman have been instructed to act for J.K. Buckenham Limited (the Company) in relation to a scheme of arrangement which is the first of its kind (the Scheme). Under the Scheme, the Company will ask scheme creditors to give up their contractual rights against the Company, which has been in run off since 2007, in return for a replacement contract with its sister company, Howden Insurance Brokers Limited (HIBL). Any claims for IBA monies will be dealt with outside of the Scheme, allowing the Company to perform a credit write-back once the Scheme has terminated. The meeting of scheme creditors will take place on 4 June 2014.
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