Update on Western Pacific Insurance Limited

On 1 April 2011, the Shareholders by Special Resolution appointed David Ian Ruscoe and Simon John Thorn, of Grant Thornton New Zealand Limited, as Joint and Several Liquidators of Western Pacific Insurance Limited.

All policies/contracts of insurance issued by the company were cancelled effective 21 April 2011. Accordingly, all policy holders are advised to arrange alternative cover where possible and act as prudent uninsured in the event alternate insurance cannot be secured.

The Liquidators are working towards recovery of reinsurance proceeds expected to be in excess of $34m in respect of losses resulting from the Canterbury earthquakes on 4 September 2010 and 22 February 2011.

On 3 November 2011 the directions hearing to determine who has rights to the reinsurance was held in the High Court. A copy of the judgment is included in the Report to Creditors of Western Pacific Insurance Limited 21 December 2011.

For further information on the status of the liquidation, please refer to the reports issued by the Liquidators, available below.

If you are owed money by Western Pacific Insurance Limited, click here for a copy of the Claims form for unsecured creditors.

We will report to creditors again in two months' time.

Report to Creditors of Western Pacific Insurance Limited dated 16 July 2014

Seventh Statutory report on Western Pacific Insurance Limited dated 28 April 2014

Report to Creditors of Western Pacific Insurance Limited dated 28 February 2014

Report to Creditors of Western Pacific Insurance Limited dated 19 December 2013

Sixth Statutory report on Western Pacific Insurance Ltd dated 18 October 2013

Report to Creditors of Western Pacific Insurance Limited dated 29 August 2013

Report to Creditors of Western Pacific Insurance Limited dated 26 June 2013

Fifth Statutory report on Western Pacific Insurance Limited 24 April 2013

Report to Creditors of Western Pacific Insurance Limited dated 25 February 2013

Report to Creditors of Western Pacific Insurance Limited Dated 19 December 2012

Fourth Statutory report on Western Pacific Insurance Limited 29 October 2012

Report to Creditors of Western Pacific Insurance Limited Dated 29 August 2012

Third Statutory report on Western Pacific Insurance Limited 30 April 2012

Report to Creditors of Western Pacific Insurance Limited 21 December 2011

Second Statutory report on Western Pacific Insurance Limited 27 October 2011

Report to Creditors of Western Pacific Insurance Limited 26 August 2011

Report to Creditors of Western Pacific Insurance Limited 7 June 2011

First Statutory report on Western Pacific Insurance Limited 7 April 2011