The Third Parties (Rights Against Insurers) Bill (the Bill) had its 1st reading in the House of Lords on 23 November 2009. It is designed, in particular, to remedy the shortcomings of current legislation in protecting the rights of third party claimants against insurers of the liabilities of insolvent defendants.
Read MoreOn 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.
Read MoreMark Everiss and Nick Pearson of Edwards Angell Palmer & Dodge were again busy at the 2009 AIRROC/Cavell Commutations and Networking Event.
Read MoreFollowing up on our previous blog on Lord Glennie’s controversial decision in the Scottish Lion solvent scheme of arrangement we can now report that last week the scheme was formally dismissed.
Read MoreErnst & Young (“E&Y”) has settled the Akai Holdings (“Akai”) case with Akai’s liquidator, Borrelli Walsh. In the case, E&Y was accused of negligence for failing to avert Akai’s collapse in 2004.
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