Enterprise Insurance Company update, Wednesday 26th October
The Supreme Court of Gibraltar has today, 26 October 2016, appointed Mr Freddie White of Grant Thornton (Gibraltar) Limited as Liquidator of Enterprise. The Court considered the report of Mr White as Provisional Liquidator which set out his findings that the company is insolvent and his recommendation that a Liquidator be appointed.
The Liquidator will now begin the process of winding up the company under the supervision of the GFSC. He will be notifying all creditors of EIC of his appointment. He will be considering insurance claims and whether these will be admitted as claims in the liquidation.
The Liquidator has today disclaimed all Enterprise motor insurance policies. This means that as from midnight today, 26 October 2016, all Enterprise motor policies are no longer effective. Policyholders can no longer rely on their Enterprise Insurance policies to support their right to drive. Policyholders will be considered as driving without insurance. Policyholders that do not have alternative cover are advised to contact their brokers immediately.
Mr White is in contact with the compensation schemes in the various countries in which Enterprise wrote business to coordinate with them the processes by which eligible claims may be paid from the schemes. We will update our website with further information regarding these processes as it becomes available.
Source: http://www.fsc.gi/