THE SOCIETY OF LLOYD’S V CLEMENTSON

(1996) 5 Re LR 215

Queen’s Bench Division Commercial Court

Before Mr Justice Cresswell

Lloyd’s litigation - Competition - European Community - Whether conduct of insurance business fell within scope of EC Treaty article 85 - Whether Lloyd’s Central Fund arrangements (whether considered alone or in combination with Lloyd’s reinsurance provisions) (a) had an influence direct or indirect, actual or potential, on pattern of trade between Member States, such as might prejudice realization of aim/objective of a single market between Member States; (b) had as their object prevention, restriction or distortion of competition within Common Market - Whether rule of reason under European law applied to Central Fund arrangements - Whether, if Central Fund Arrangements infringed article 85(1), paragraph 10 of Central Fund Byelaw was severable - Whether defendants losses were caused by any of matters complained of in proceedings.