Victory VII.

Autor: Ramsay, Scot
Zdroj: Reinsurance; Sep2006, p41-43, 2p, 1 Color Photograph, 1 Chart
Abstrakt: The article discusses the application of the Part VII transfers in the insurance sector. Part VII transfers under Great Britain's Financial Services and Markets Act implements a statutory novation under which contracts of insurance can be changed without the shareholder's consent. It can be used to facilitate the delivery of more complex run-off initiatives such as the closure of underwriting pools. It can also amount to a reorganisation for the purpose of section 304 of the U.S. Bankruptcy Code.
Databáze: Supplemental Index