Sphere Drake Insurance Limited, in the matter of Sphere Drake Insurance Limited [2008] FCA 2012

FEDERAL COURT OF AUSTRALIA

Sphere Drake Insurance Limited, in the matter of Sphere Drake Insurance Limited [2008] FCA 2012

SPHERE DRAKE INSURANCE LIMITED, IN THE MATTER OF SPHERE DRAKE INSURANCE LIMITED

NSD1881 of 2008

EMMETT J

12 DECEMBER 2008

SYDNEY IN THE FEDERAL COURT OF AUSTRALIA

NEW SOUTH WALES DISTRICT REGISTRY NSD1881 of 2008

IN THE MATTER OF SPHERE DRAKE INSURANCE LIMITED, SPHERE DRAKE INSURANCE LIMITED

ARBN 001 263 001

Plaintiff

JUDGE: EMMETT J

DATE OF ORDER: 12 DECEMBER 2008

WHERE MADE: SYDNEY

THE COURT ORDERS THAT:

1. Pursuant to section 17C(5) of the Insurance Act 1973 (the Act), the need for the applicant to comply with section 17C(2)(c) of the Act is dispensed with provided that the Applicant complies with Orders 2, 3, 4 and 5 below.

2. The Applicant, before the scheme for the transfer of insurance business from the Applicant to Gordian Runoff Limited (the Scheme) is released for public inspection under order 4 below, cause a copy of a summary of the Scheme approved by the Australian Prudential Regulation Authority (APRA) to be sent by pre-paid post to:

(a) all policyholders of the Applicant's Australian branch that the Applicant has identified from its records and from the publicly available sources consulted by it, as described in the affidavit of Leslie Byrne sworn on 5 December 2008, for which the Applicant has an address;

(b) each broker known by the Applicant to have placed or administered any Transferring Policy (as defined in the Scheme) at its registered address or last known address maintained upon the records of the Applicant;

(c) each insurance company authorised by APRA to carry on general insurance business in Australia at the address specified on APRA's mailing list as at 25 January 2008, as described in the affidavit of Leslie Byrne sworn on 5 December 2008 or such other address that APRA may subsequently notify the Applicant in writing;