Scottish Lion ruling welcomed, but sanction hangs in balance
The Scottish Appeal Court dealt "very clearly" with the concern created in the run-off market by the first instance dismissal of the proposed Scottish Lion scheme of arrangement, says law firm Reynolds Porter Chamberlain (RPC).
The 29 January decision to uphold the appeal by the Audley Gilroy-owned insurer and its administrators, PricewaterhouseCoopers (PwC) restored the status quo, according to RPC partner Vivien Tyrell.
"At that hearing, the Lords have made it plain, the question of fairness of the scheme is...
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