Creditors of Trinity Insurance Company have been boosted by news that scheme administrators from PwC have announce that after consultation with the Creditors’ Committee, the payment percentage to creditors has been raised to 76.75%.

The new figure was revealed by administrators Paul Evans and Nigel Rackham who said this final payment percentage would see creditors benefiting from a further 6.75% of their established liabilities above the current payment level of 70%.

This payment will be the last for the Trinity scheme of arrangement and sees the scheme successfully bought to a close.

Paul Evans said: ‘I am very pleased with the progress in bringing the Trinity estate towards closure. This final percentage payment increase sees creditors benefiting from a total of 76.75% of their established liabilities and is a result which has been achieved much quicker through a cut-off scheme of arrangement than it might have been through continuing a traditional run-off.’

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