04 April 2012
Re Combined Insurance Company of America and other companies [2012] EWHC 632 (Ch), [2012] All ER (D) 182 (Mar)
Neither the Financial Services and Markets Act 2000 nor the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 (SI 2001/3625) required applicants, applying for directions in respect of a proposed transfer scheme, to give notice to former policyholders. On the other hand, the court could impose such a direction with a view to giving information to former policyholders who, it was agreed, were potentially entitled to be heard at the later hearing when the court was asked to sanction the scheme.
