Moving into line
The Financial Services and Markets Act 2000 Order 2002 has introduced legislation aimed at bringing the process of dealing with troubled insurance companies into line with that of other industries, but does it work? Dan Schwarzmann takes a look
For a troubled insurer, the appointment of a provisional liquidator has, in general, until now been used to avoid putting the company into liquidation, a process that for various reasons is not usually considered to be of benefit to the creditors of an insurance company.
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