A policyholder in a mutual life insurance company who sought to oppose a proposed re-organisation was entitled to a pre-emptive order for his costs. His position was akin to that of a minority shareholder in a company undergoing a similar proposal, and he should have the same assistance. His application was representative of a substantial class of members of the society who might wish to oppose the reorganisation. The costs order could be extended also to cover his potential liability should a costs order be made against him.
Citations:
Times 19-Dec-2000, Gazette 05-Jan-2001, [2001] 2 BCLC 447
Jurisdiction:
England and Wales
Cited by:
Cited – Corner House Research, Regina (on the Application of) v Secretary of State for Trade and Industry CA 1-Mar-2005
The applicant sought to bring an action to challenge new rules on approval of export credit guarantees. The company was non-profit and founded to support investigation of bribery. It had applied for a protected costs order to support the . .
Lists of cited by and citing cases may be incomplete.
Financial Services
Updated: 08 April 2022; Ref: scu.81702