Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
TGI Australia Limited, in the matter of TGI Australia Limited [2012] FCA 987 Citation: TGI Australia Limited, in the matter of TGI Australia Limited [2012] FCA 987
Party: TGI AUSTRALIA LIMITED (ABN 12 000 041 458)
File number: NSD 829 of 2012
Judge: JACOBSON J
Date of judgment: 27 August 2012
Legislation: Insurance Act 1973 (Cth), Division 3A of Part III
Date of hearing: 27 August 2012
Place: Sydney
Division: GENERAL DIVISION
Category: No catchwords
Number of paragraphs: 6
Counsel for the Plaintiff: Mr N Owens
Solicitor for the Plaintiff: HWL Ebsworth Lawyers
Legal representative for APRA: Mr L Weate
IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY GENERAL DIVISION NSD 829 of 2012
IN THE MATTER OF TGI AUSTRALIA LTD Party: TGI AUSTRALIA LIMITED (ABN 12 000 041 458)
Plaintiff
JUDGE: JACOBSON J DATE OF ORDER: 27 AUGUST 2012 WHERE MADE: SYDNEY
THE COURT ORDERS THAT:
1. Pursuant to Section 17F of the Insurance Act 1973 (Cth) (the Act), the scheme for the transfer of TGI Australia Limited's (TGI) insurance/reinsurance business to Gordian RunOff Limited (Gordian) (the Scheme), be confirmed in the form of Exhibit A in these proceedings. 2. The transfer date for the purposes of the Scheme and the Deed of Transfer of Insurance Business (the Deed) which appears at pages 3 to 68 of Exhibit marked "SOS2" referred to in the affidavit of Sandra O'Sullivan, be 5 September 2012. 3. Pursuant to Section 17F of the Act, all rights and obligations owed to TGI pursuant to any reinsurance treaties, be confirmed and transferred to Gordian and any reinsurance treaties to which TGI was a party shall be amended by replacing TGI with Gordian. 4. Gordian is to pay the costs of the proceedings of the Australian Prudential Regulation Authority (APRA) as agreed or assessed. 5. Gordian and APRA have liberty to apply on two clear days' notice. Note: Entry of orders is dealt with in Rule 39.32 of the Federal Court Rules 2011.
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