On 25 March 2010, HM Treasury published a consultation paper which proposes improvements to the protection and payment of benefits for policyholders of insurers in financial difficulty. In particular, the proposals address certain gaps in the regime for insurers in administration in contrast to the regime applied in liquidation.
United Kingdom, Insolvency & Restructuring, Insurance, Norton Rose Fulbright, Public consultations, Liquidation, Default (finance), Financial Services Compensation Scheme, Actuary, HM Treasury (UK), Insolvency Act 1986 (UK)
The Alberta Court of Appeal recently released its decision with respect to the appeal of Brookfield Bridge Lending Fund Inc. v. Vanquish Oil and Gas Corporation and has rekindled discussion as to the risks associated with an Operator’s right to commingle his own general funds with trust funds held for the benefit of Joint Operators.
Facts
Canada, Alberta, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Miller Thomson LLP, Secured creditor, Constructive trust, Trustee, Court of Appeal of England & Wales, Court of Appeal of Alberta