Mutual Risk Management Ltd. (MRM) has notified its creditors that meetings due to be held on February 5 have been postponed until early March.

The meetings were to discuss a proposed Scheme of Arrangement between MRM and its creditors, however just prior to February 5, MRM became aware that certain creditors had not been given notice of the meetings. It also became apparent that certain of those creditors who had received the scheme documents, had misinterpreted some of the provisions and as a result had expressed dissatisfaction with the proposals.

Consequently MRM obtained a court order allowing them to postpone the meeting in order to send out an amended Scheme of Arrangement. A letter from David Ezekiel, chairman of MRM, stated that the company wished "to ensure that all creditors are given proper notice...and to ensure that there can be no misunderstanding as to the true purpose and terms of the scheme".