Marsh has reached settlement in a claim of almost $143 million with investment firm White Oak, which had alleged that the insurance broker misled it when selling cover for investments in Greensill Capital, a financing firm that collapsed in 2021.
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TOP NEWS

Marsh Settles $143M Claim Over Losses In Greensill Collapse

By Eddie Beaver

Marsh has reached settlement in a claim of almost $143 million with investment firm White Oak, which had alleged that the insurance broker misled it when selling cover for investments in Greensill Capital, a financing firm that collapsed in 2021.

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FCA Plans Overhaul To Ease Complaints Reporting Process

By Alex Davidson

The Financial Conduct Authority proposed on Thursday to introduce a simpler process for companies to report complaints that will improve its ability to detect harm for consumers.

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M&S Says Hack Attack Disruption To Last Till July, Cost £300M

By Joel Poultney

Retail giant Marks & Spencer has said it expects the cyberattack hit it took in April to cost it around £300 million ($402 million), with disruption likely to continue to online retail until July.

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LITIGATION

EY Says NMC Health Obstructed Detection Of £2B Fraud

By Sophia Dourou

NMC Health "frustrated and obstructed" EY's ability to detect widespread fraud at the healthcare chain, lawyers for the Big Four firm said in its defense against a £2 billion ($2.7 billion) High Court claim Thursday.

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Tory Donor Battles BBC Over Corruption Libel Defense

By Ronan Barnard

Telecoms magnate and Conservative Party donor Mohamed Amersi urged a London judge Thursday to throw out part of the BBC's defense over what he asserts are the corporation's "baseless factual assertions," in the latest stage of his high-profile libel claim.

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POLICY & REGULATION

UK Pensions Watchdog To Quiz Funds On Gov't Asset Plan

By Martin Croucher

The retirement savings watchdog has said that it will quiz pension funds over which assets are likely to be attractive, as part of a government strategy to encourage more investment in the national economy.

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68% Of Pension Transferers Happy With Choice, Data Shows

By Joel Poultney

Only 68% of savers who have transferred money from a defined benefit to a defined contribution scheme in the last four years are happy with their choice, analysis published Thursday shows.

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DEALS

HSF Guides Royal London's Up-To-£500M Asset Manager Buy

By Tom Fish

Royal London said Thursday that it has agreed to buy infrastructure asset manager Dalmore Capital as the mutual insurance and investment firm seeks to broaden its business.

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Brief

Asset Manager Impax Launches £10M Share Buyback

By Irene Madongo

Impax Asset Management Group PLC kicked off a share repurchase program worth up to £10 million ($13 million) on Thursday, a move the company said signals confidence in its future success.

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PEOPLE

Freeths Hires Pensions Specialist From Simmons & Simmons

By Irene Madongo

Freeths has hired James Dean, a pensions specialist from Simmons & Simmons LLP, to lead the growth and development of the firm's national pensions practice.

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LAW FIRMS IN TODAY'S NEWS

4 New Square

7 King's Bench Walk

Brick Court Chambers

Bristows LLP

Burges Salmon

Carter-Ruck

Clifford Chance

Clyde & Co

Essex Court Chambers

Fountain Court Chambers

Freeths LLP

Herbert Smith Freehills

Holman Fenwick

Matrix Chambers

One Essex Court

Osborne Clarke

Quinn Emanuel

Reynolds Porter

Simmons & Simmons

Simon Paschal

Slaughter and May

TLT LLP

Taylor Wessing

COMPANIES IN TODAY'S NEWS

Alvarez & Marsal Holdings LLC

BNP Paribas SA

British Broadcasting Corp.

Ernst & Young LLP

Fort Point Capital

Greensill Capital

Impax Asset Management Group Plc

London Stock Exchange Group PLC

Marks & Spencer

Munich Re Group

Phoenix Group Holdings

Rothschild & Co. SCA

White Oak Global Advisors LLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

Financial Conduct Authority

Financial Reporting Council

UK High Court

UK Pensions Regulator