Dissident names to make costs deposit

The Court of Appeal has ordered that the 216 private investors, still pursuing legal action against Lloyd’s, make an interim payment into court for potential future legal costs of £650,000. Although they have already paid £100mn Lloyd’s claims they still owe a further £50mn; the United Names Organization still maintains that Lloyd’s acted fraudulently in not properly informing them of the extent of (mainly asbestos) risk faced.