Over the past few months there have been a number of insurance portfolio transfers and a winding up of a general insurer. Various judges of the Federal Court have considered aspects of the Insurance Act (Cth) 1973.
Portfolio transfers
There have been two scheme transfers of insurance portfolios from Australian branches of overseas insurers to Australian subsidiaries. While objections to the transfers were raised, the Federal Court confirmed the schemes.
Australia, Insolvency & Restructuring, Insurance, King & Wood Mallesons, Reinsurance, Liquidation, Holding company, American International Group, Constitutional amendment, Corporations Act 2001 (Australia), Federal Court of Australia
Amaca Pty Ltd v McGrath & Anor as liquidators of HIH Underwriting and Insurance (Australia) Pty Ltd [2011] NSWSC 90
Australia, Insolvency & Restructuring, Insurance, Litigation, King & Wood Mallesons, Share (finance), Debt, Liability (financial accounting), Reinsurance, Liquidation, Underwriting, Liquidator (law), Corporations Act 2001 (Australia)