Dyoll Insurance Co. Ltd

IN THE SUPREME COURT OF JUDICATURE OF JAMAICA

IN THE CIVIL DIVISION

CLAIM NO. HCV 1267 OF 2005

(NO. 2)

IN THE MATTER OF QyfLL

U\ISURANCE COMPANY

LIMITEB (1 N

LIQUIDATION)

AND

IN THE MATTER OF

SECTIONS 206 AND 241

OF THE COMPANIES ACT,

2004

AND

IN THE MATTER OF THE

COMPANIES ACT

IN CHAMBERS

Debbie-Ann Gordon and Ivally McDonald instructed by Debbie-Ann Gordon and

Associates for the Joint Liquidators

Symone Mayhew instructed by the Director of State Proceedings for the Financial

Services Commission

Miss Ingrid Pusey f o r t h e Financial Services Commission

FEBRUARY 5 and 16, 2007

APPLICATION FOR APPROVAL OF COMPROMISE, WHETHER ONE GROUP OF

CREDITORS SHOULD BE SUMMONED TO THE MEETING, PRESCRIBED DEPOSIT

UNDER SECTION 21 OF THE INSURANCE ACT

SY KES J .

1. I n the previous application I delivered judgment on August 3, 2006. The relevant

statutory provisions as well as the applicable legal principles were cited in that

judgment and shall not be repeated here. The joint liquidators have renewed their

application and provided more information that I had on the last occasion. This

application is supported by the affidavit of Mr. Lancelot Thomas. I should point out

t h a t Mr. Wilfred Baghaloo, Mr. John Lee and Mr. John Dean of the joint liquidators

were in attendance and provided valuable information.