- Transfer schemes—breaking new ground?
- Original news
- What are the key things to take from this case?
- How did the issues arise?
- What were the legal issues the court had to decide?
- What were the main legal arguments put forward?
- ILU guarantees
- To what extent does this judgment clarify or extend the law in relation to transfer schemes (eg, relating to third party guarantees)?
- What practical lessons arise?
Restructuring & Insolvency analysis: According to Joe Bannister, partner at Hogan Lovells, the major lesson from Copenhagen Re is the importance the courts continue to place upon the quality of supporting evidence and levels of disclosure when considering both transfer schemes (also known as part VII schemes or insurance business transfer schemes) and schemes of arrangement under Part 26 of the Companies Act 2006 (CA 2006).
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