UK - High Court Sanctions Trimark Solvent Scheme of Arrangement
On 11 November the High Court sanctioned the solvent scheme of arrangement of the Trimark Pools, which had been in run-off for over 40 years. The schemes involved London market reinsurance business written by 48 different companies.
The sanction of these schemes suggests that fears that the decision in the Scottish Lion scheme (
see our previous blog here) would herald the end of solvent schemes of arrangement may be premature.
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