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McMAHON AND SMITH v. AGF HOLDINGS (UK) LTD. AND OTHERS NATIONAL EMPLOYERS MUTUAL GENERAL INSURANCE ASSOCIATION LTD. v. SAME

Lloyd's Reinsurance Law Reports

McMAHON AND SMITH v. AGF HOLDINGS (UK) LTD. AND OTHERS NATIONAL EMPLOYERS MUTUAL GENERAL INSURANCE ASSOCIATION LTD. v. SAME

[1997] LRLR 159

CHANCERY DIVISION(COMPANIES COURT)

Mr. Justice LIGHTMAN:

Reinsurance contract - Damages - Net loss approach - Insurance company sold subsidiary under business sale agreement - Liquidation of insurance company imminent - Direct payment arrangement introduced - Whether insurance company suffered any recoverable damage or loss by virtue of direct payment arrangement.

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