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.
In the case of In the matter of Construction Confederation and In the matter of the Insolvency Act 1986 [2009] EWHC 3551 (Ch), the trustees of the Construction Confederation Staff Pension Scheme have obtained an order for winding up of the sponsoring employer, an unincorporated association.
Freakley v Centre Reinsurance International Company & Ors [2006] UKHL 45
This case concerns whether a claim to reimbursement of claims-handling expenses should have priority over other creditors on insolvency of the insured.
Declining to follow a 2012 decision, the High Court has ruled that a bankrupt’s unexercised rights to draw his pension did not represent income to which he was entitled within the meaning of the Insolvency Act 1986, and so did not form part of the bankruptcy estate.
Background