Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

IN RE GENERAL ACCIDENT FIRE & LIFE ASSURANCE CORPORATION, LTD.

(1932) 44 Ll.L.Rep. 315

CHANCERY DIVISION.

Before Mr. Justice Farwell.

Insurance company- Motor insurance- Statutory deposit- Value of investments - Summons claiming payment out, investments having appreciated, of excess value of deposit- Procedure: Petition or summons - Summons amended so that sum to be paid out was less than sum to be paid in- Change of investment - Assurance Companies Act, 1909, Sects. 2, 3- Road Traffic Act, 1930, Sect. 37- R.S.C., Order 55, r. 2 (8) Insurance company- Motor insurance- Statutory deposit in accordance with Assurance Companies Act, 1909, as amended by Road Traffic Act, 1930, Sect. 42- Whether primarily applicable to satisfaction of third party claimants- Decision in In re South-East Lancashire Insurance Company, 44 Ll.L.Rep. 156, questioned.

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