Persons entitled
- Lloyd's (The Trustee)
Amount secured
The payment of losses (including claims for the return of unearned premium) under contracts or policies of insurance incepting on or after 1ST january 1996 underwritten by the company as a member of syndicate no. 1301 (the "syndicate") and allocable to the relevant year of account or in respect of which the company is liable as a member of the syndicate for the relevant year of account for an earlier year of account pursuant to any contract of reinsurance to close and issued to a policyholder pursuant to the insurance laws of the commonwealth of kentucky providing insurance with respect to property or risks situated in said commonwealth (a "kentucky policy"), all expenditures and fees of the trustee (as defined in the trust deed and being, as at the date thereof, national city bank, kentucky, U.S.A.), repayment of cash or securities advanced by the trustee to the trust held under the provisions of the trustdeed, and certain transfers by the trustee to an overseas fund (as defined in the trust deed) or to the commissioner of insurance of the commonwealth of kentucky or other designated receiver, and for securing the other amounts and obligations referred to in the trust deed
Short particulars
The property in the actual and sole possession of the trustee at any time and held under the provisions of the trust deed allocable to the particular trust created by the company with respect to the particular year ofaccount of the syndicate (the trust fund or trust). Cash in us currency or specifically designated readily marketable securities and/or letters of credit sustitued by the aent at any time for any cash or assets then forming part of the trust fund. See the mortgage charge document for full details.