The Scottish Court of Session has, for the first time, considered what is required to establish a ‘liability’ for the purposes of the Third Parties (Rights against Insurers) Act 2010 (the “2010 Act”). In this matter, the Court found that a ‘decree in default’, issued due to the insolvent Insured’s failed to appear at a procedural hearing, was sufficient to establish ‘liability’.

Earlier in April last year, we wrote an article on the insolvency exemption to the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO). Insolvency practitioners will be disappointed to hear that it has now been confirmed that the exemption will be lifted later this year.  

The regulatory amendments drawn up by the Secretary of State for Work and Pensions following the outcome in Trustees of Olympic Airlines SA Pension &Life Assurance Scheme v Olympic Airlines SA have been drafted narrowly and may end up protecting no one other than the beneficiaries of the Olympic Airlines pension scheme.

The issue

The regulatory amendments drawn up by the Secretary of State for Work and Pensions following the outcome in Trustees of Olympic Airlines SA Pension & Life Assurance Scheme v Olympic Airlines SA have been drafted narrowly and may end up  protecting no one other than the beneficiaries of the Olympic Airlines pension scheme. 

The issue