Royal London Gets Nod For £1B Brexit Transfer Scheme
Law360, London (February 5, 2019, 5:30 PM GMT) -- A London judge Tuesday morning approved plans for Royal London Mutual Insurance Society, the U.K.'s largest mutual insurer, to transfer its £1 billion ($1.30 billion) European business to Ireland over concerns about the uncertainties surrounding a no-deal Brexit.
In a short hearing, High Court Judge Richard A. Snowden sanctioned the insurer's plan to move hundreds of thousands of policies belonging to European customers that are currently managed in the U.K. to a newly created Royal London subsidiary operating across the Irish Sea.
The 22-page order found it was "reasonable" for Royal London's board to avoid the risk of its U.K. business...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!