A European subsidiary of Canadian insurance giant Manulife is to be wound up by Deloitte, the company has confirmed.
According to the section 89 form submitted at Companies House, the division has an asset surplus of over £1.5 million after debts excluding the costs of the liquidation.
Insolvency practitioners Stephen Browne and Christopher Day have been appointed liquidators to Manulife Asset Management (Europe) Holdings Limited. This division was known as MFC Global Fund Management Limited until 6 January 2011.
Manulife is one of the largest insurers in the world, employing over 25,000 people globally. The organisation demutualised in 1999 and continues to have sizeable operations in Asia and North America.
Creditors of the business have until 20 March 2013 to inform liquidator Christopher Day Deloitte LLP of their particulars, together with documentary evidence of the amounts owed.
Creditors not proving their debts before 20 March 2013 will not be entitled to a share of the intended final asset distribution.
Deloitte will return any remaining assets to shareholders after the final asset distribution.
The London Gazette notice cites the company’s King William Street offices in London’s City district as the base for the division.
Manulife Asset Management (Europe) Limited – a separate registered company – remains authorised by the Financial Services Authority (FSA) at present.