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Setanta Insurance Company Limited (In Liquidation)

Creditors’ Meeting held on 16th October 2020

Summary of Minutes

1. The minutes of the previous meeting, held on 18th October 2019, were approved.

2. The Liquidator’s account of his acts and dealings in the conduct of the winding up, for the 12 month period between 1st August 2019 and 31st July 2020, was approved.

3. The Liquidator’s summary of receipts and expenditure for the period 1st August 2019 and 31st July 2020, including the Liquidator’s fees, was approved.

4. The creditors’ committee, comprising the following persons, was re-appointed:

* (i)  Mr. Paul Purcell – Allglass Windscreens

* (ii)  A representative from the Motor Insurers’ Bureau of Ireland

* (iii)  A representative from the Irish Brokers Association

5. As previously reported, as a result of the coming into force of the Insurance (Amendment) Act 2018 on the 24th July 2018, a number of provisions were introduced, amongst which was that third party personal injury claims, who are successful in their claims, will now receive 100% compensation from the Insurance Compensation Fund. Likewise, successful third party property damage claims will receive 100% compensation.