Two more solvent schemes of arrangement sanctioned
Two new solvent schemes of arrangement were sanctioned on Friday 28 October by Mr Justice Evans-Lombe for La Mutuelle du Mans Assurance and Scottish Eagle Insurance. These are the first solvent schemes of arrangement with a material element of direct policyholders to be approved since the British Aviation Insurance Company ruling in July 2005.
In addition, in both the MMA and Scottish Eagle solvent schemes of arrangement Mr Justice Evans-Lombe deemed it appropriate to have one class of creditor for the purpose of voting. No distinction wasOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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