The court had made an order transferring the insurance business of the company. The question arose as to whether it also had the right to transfer the benefit of contracts of re-insurance, which could at common law, only be transferred by consent of the insurer.
Held: The Act contained the power in section 112 to make such orders even where the insured could not itself assign the contract.
Judges:
Park J
Citations:
Times 31-Dec-2002, [2002] EWHC 2784 (Ch)
Links:
Statutes:
Financial Markets and Services Act 2000 111 112(2)(a)
Jurisdiction:
England and Wales
Insurance, Financial Services
Updated: 04 October 2022; Ref: scu.178707
