The Insurance Insider yesterday reported that the High Court had sanctioned Minster Insurance’s solvent scheme of arrangement, after the creditors approved the scheme at a meeting held on 18 January 2010.
The sanctioning of this scheme, which is the first to come before the English courts since the Scottish Lion scheme faced problems in the Scottish Courts (see our previous blogs here and here), will provide comfort to those who feared that the continued use of solvent schemes of arrangement was under threat.
