Business and Property Courts of England and Wales Insolvency & Companies List (ChD)Notice ID: GL1389901
In the High Court of Justice
Business and Property Courts of England and Wales
Insolvency & Companies List (ChD)
IN THE MATTER OF MOBIUS LIFE LIMITED (a company incorporated in England with number 03104978) -and-
IN THE MATTER OF SCOTTISH FRIENDLY ASSURANCE SOCIETY LIMITED (registered and incorporated under the Friendly Societies Act 1992 with No.3 COLL(S)) -and-
IN THE MATTER OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
NOTICE IS HEREBY GIVEN that on 25 July 2018, an application was made under section 107 of the Financial Services and Markets Act 2000 (the "Act") in the High Court of Justice (the "Court") in London by the above-named Mobius Life Limited ("Mobius Life") and Scottish Friendly Assurance Society Limited ("Scottish Friendly") for an order under section 111 of the Act sanctioning an insurance business transfer scheme (the "Scheme") providing for the transfer of certain of the long-term insurance business carried on by Mobius, namely the bundled Group Pension and Stakeholder business (the "Business") to Scottish Friendly.
If the Scheme is sanctioned by the Court, it will result in the transfer to Scottish Friendly of all the contracts, property, assets and liabilities comprised within the Business, notwithstanding any restriction or right (including any right to consent, terminate, modify, acquire or claim an interest or right or to treat an interest or right as terminated or modified) that might otherwise apply in relation to such transfer. Any such restriction or right will only be enforceable to the extent the order of the Court makes provision to that effect.
The availability to policyholders of recourse to the Financial Services Compensation Scheme and Financial Ombudsman Service will not change as a result of the Scheme. Therefore policyholders of Mobius Life and Scottish Friendly who are currently protected by the Financial Services Compensation Scheme and/or who have recourse to the Financial Ombudsman Service will continue to have such protection or recourse.
Copies of the report on the terms of the Scheme prepared by an independent expert in accordance with section 109 of the Act, (the "Scheme Report"), a statement setting out the terms of the Scheme and a summary of the Scheme Report may, until the effective date of the Scheme, be obtained by any person free of charge, by writing to Mobius Life Limited, 7th Floor, 20 Gresham Street, London EC2V 7JE or calling 0800 028 0339 from within the UK ( (0) 1733 355 828 from outside the UK) or by writing to Scottish Friendly Assurance Society Limited, Scottish Friendly House, 16 Blythswood Square,
Glasgow G2 4HJ or by calling 0333 323 5433. These documents, together with
other supporting documents, are also available online at www.mobiuslife.co.uk and at www.scottishfriendly.co.uk/members-area/takeover-and-acquisitions
Any person who has questions relating to the proposed transfer, or requires any further information, should contact Mobius Life (by writing to the address above or calling the telephone number above).
The Application is directed to be heard before a Companies Court Judge at the Rolls Building, Fetter Lane, London, EC4A 1NL on 7 November 2018. If approved by the Court, it is currently proposed that the Scheme will take
effect on 9 November 2018.
Any person (including any employee of Mobius Life or Scottish Friendly) who thinks that he or she would be adversely affected by the carrying out of the Scheme may attend the hearing and express their views either in person or by legal representative. Anyone intending to do so is asked (but is not required) to inform the Solicitors named belowin writing or bytelephone as soon as possible and in any event prior to the date of the hearing of their grounds of objection. Any person who objects to the Scheme but does not intend to attend the hearing may make representations about the Scheme, which the Court will be made aware of, by notifying Mobius Life or Scottish Friendly (as appropriate) or the Solicitors named below of such representations in writing or by telephone prior to the date of the hearing setting out their grounds of objection.
Dentons UKMEA LLP One Fleet Place,
London EC4M 7RA (0)20 7242 1212
Solicitors to Mobius Life
CMS Cameron McKenna Nabarro Olswang LLP Saltire Court, 20 Castle Terrace,
Edinburgh EH1 2EN (0) 131 228 8000
Solicitors to Scottish Friendly_
Dated: 22nd August 2018