The fate of the WFUM polls scheme of arrangement, one of the largest ever contested, will be decided early next year, according to a recent story in Insurance Day.

PRO Insurance Solutions Limited (PRO) has confirmed the meetings of creditors for all 16 of the participants in the WFUM pool scheme were convened in London in October. Votes were cast by creditors of 14 of the scheme companies. The meetings of two companies, Hibernian General Insurance Ltd and Sphere Drake Insurance Ltd, which only have small participations in the pool, were adjourned prior to the voting process.

The results of those WFUM pool scheme meetings of creditors should be announced early next year, according to PRO, the proposed manager of the WFUM pools scheme.

“As outlined in the WFUM scheme document and in line with market best practice, the independent chairman of the meetings, Stephen Adamson, is reviewing the votes and values submitted prior to reporting the court on the outcome of the voting for each scheme.”

PRO will announce the outcome following the completion of he independent chairman's review.