Copenhagen Reinsurance Company Ltd, in the matter of the application of The Copenhagen Reinsurance Company Ltd [2011] FCA 23

FEDERAL COURT OF AUSTRALIA

Copenhagen Reinsurance Company Ltd, in the matter of the application of The Copenhagen Reinsurance Company Ltd [2011] FCA 23 Citation: Copenhagen Reinsurance Company Ltd, in the matter of the application of The Copenhagen Reinsurance Company Ltd [2011] FCA 23

Parties: IN THE MATTER OF THE APPLICATION OF THE COPENHAGEN REINSURANCE COMPANY LIMITED (ABN 99 070 671 948) FOR CONFIRMATION OF A SCHEME FOR THE TRANSFER OF INSURANCE BUSINESS TO GORDIAN RUNOFF LIMITED (ABN 11 052 179 647) PURSUANT TO DIVISION 3A OF PART III OF THE INSURANCE ACT 1973 (CTH)

File number: NSD 1330 of 2010

Judge: EDMONDS J

Date of judgment: 21 January 2011

Catchwords: INSURANCE – transfer of the general insurance business of an Australian branch of a foreign insurer to an Australian company within the same group of companies – application to Court for confirmation of scheme. Held: having regard to the considerations in s 17(1A) of the Insurance Act 1973 (Cth) the Court, in an exercise of its discretion, confirmed the scheme.

Legislation: Insurance Act 1973 (Cth) s 17F Life Insurance Act 1995 (Cth)

Cases cited: In the matter of Combined Insurance Co of America [2010] FCA 962 In the matter of GIO Personal Investment Services Ltd and AMP Life Ltd [2000] FCA 1871 In the matter of HDI-Gerling Australia Insurance Co Pty Ltd (No 2) [2010] FCA 669 In the matter of MDU Australian Insurance Co Pty Ltd [2008] FCA 490 In the matter of Reward Insurance Ltd [2004] FCA 151 In the matter of Westport Insurance Corporation (No 2) [2009] FCA 1598 Mercantile & General Reinsurance Co of Australia Ltd [2004] FCA 1773 Re Armstrong Jones Life Assurance Ltd (1997) 74 FCR 160 Re Insurance Australia Ltd (2004) 139 FCR 450 Re Royal & Sun Alliance Life Assurance Ltd (2000) 104 FCR 37