Briefly noted

▪ Lloyd’s Names have taken their battle for compen sation from the UK government for losses incurred in the 1990s to the courts in legal proceedings that if successful could open the doors for a class action of thousands of Names. The Names allege that the Treasury failed to regulate Lloyd’s under the EU directives and failed to ensure its solvency position, a claim the Treasury said it will defend, leading to substantial losses for many private investors in the Lloyd’s market. The court hearing will last around four weeks after which time it will decide whether the Names have a case against the government. The Names involved in the action are seeking around £1bn in compensation.