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Council Minutes System | Finance and Land - 02/11/99 |
V27-881 : MMI SCHEME OF ARRANGEMENT
The report of the Director of Central Services gave an update of the winding up of Municipal Mutual Insurance (MMI), the Council's former insurers. As at 30 September 1999 the Directors of MMI remained confident of a solvent run off. The estimated claims paid and outstanding under the Scheme of Arrangement to the Council was £360,000, with £310,000 of this being liable to clawback if MMI became insolvent.
RECOMMENDED
That the latest progress report on the Municipal Mutal Insurance Scheme of Arrangement be approved.
Volume 27 Minute 881
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