Commencement of US Chapter 15 Proceedings

RNS Number : 4096O

CATCo Reinsurance Opps Fund Ltd

07 October 2021

 

CATCo Reinsurance Opportunities Fund Announces Commencement of U.S. Chapter 15 Proceedings and Notice of Hearing

London, 7 October 2021 -

CATCo Reinsurance Opportunities Fund Ltd. announces that:

· Simon Appell of AlixPartners UK LLP and John C. McKenna of Finance & Risk Services Ltd. have been appointed as Joint Provisional Liquidators (JPLs) as of 1 October 2021 of CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Reinsurance Fund Ltd., Markel CATCo Investment Management Ltd. and Markel CATCo Re Ltd. (the CATCo Group Companies).

· On October 5, 2021, cases under chapter 15 of the U.S. Bankruptcy Code were commenced in the U.S. Bankruptcy Court for the Southern District of New York by the filing of a verified petition with respect to each of the CATCo Group Companies. 

· The chapter 15 petitions seek, among other things, recognition of the CATCo Group Companies' provisional liquidation proceedings pending before the Supreme Court of Bermuda (as commenced on 27 September 2021) and the related proposed schemes of arrangement to ensure that these proceedings are given full force and effect in the United States.

This announcement is being made to provide notice that the chapter 15 cases have been commenced and the hearing to consider the relief requested in the verified petition will take place at 10.00am (New York time) on 4 November 2021 before the Honorable Lisa G. Beckerman, United States Bankruptcy Judge for the Southern District of New York, at the United States Bankruptcy Court for the Southern District of New York, Courtroom 601, One Bowling Green, New York, New York 10004.  The hearing will be conducted remotely using Zoom for Government.

Any party-in-interest wishing to submit a response or objection to the verified petition or the relief requested therein must do so in accordance with the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and the Local Rules for the Bankruptcy Court, and such response must be received by no later than 28 October 2021, at 4.00pm (New York time).  Any party-in-interest opposed to the verified petition or the relief requested therein must appear at the hearing.  As noted above, the hearing will be conducted remotely using Zoom for Government. Any parties wishing to appear at the hearing, whether in a "live" or "listen only" capacity, must make an electronic appearance through the Bankruptcy Court's website at https://ecf.nysb.uscourts.gov/cgi-bin/nysbAppearances.pl on or before 4:00pm (New York time) the business day before the hearing.

Copies of the verified petition and all accompanying documentation may be obtained by parties-in-interest on the Bankruptcy Court's Electronic Case Filing System, which can be accessed from the Bankruptcy Court's website at  http://www.nysb.uscourts.gov  (a PACER login and password are required to retrieve a document), on the buy-out transaction website at https:// catcobuyout.alixpartners.com , or upon written request to the CATCo Group Companies' attorneys addressed to:

Skadden Arps, Slate, Meagher and Flom LLP, One Manhattan West, New York, New York 10001, USA (Attn: Lisa Laukitis)
or

Skadden, Arps, Slate, Meagher & Flom LLP, 155 N. Wacker Drive, Chicago, Illinois 60606, USA (Attn: Justin M. Winerman and Anthony R. Joseph)

or

Skadden, Arps, Slate, Meagher & Flom (UK) LLP, 40 Bank Street, Canary Wharf, London, E14 5DS, UK (Attn: Peter Newman)

 

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