London’s scheming reaches new heights…
For all their controversy in other jurisdictions, the London market has continued to demonstrate an appetite and approval for schemes of arrangements as a means of securing finality for run-off business.
A reminder of the rapidity afforded to those successfully scheming away their liabilities was presented to markets through the winding up of the liabilities of insolvent UK insurer Highlands Insurance Company (HUK).
On 10 August, reinsurance cedants will have the chance to vote on a proposed scheme of arrangement...
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