The proposals would give the Bank of England wide-ranging powers to deal with acute failure scenarios, treating policyholder liabilities as loss-absorbing. By Victoria Sander and Tim Scott HM Treasury is proposing a new UK resolution regime for insurers that would appoint the Bank of England as resolution authority with sweeping powers to resolve insurers through … Continue Reading
FCA announces steps to obtain clarity for insurers and policyholders. By Victoria Sander, Martin Davies, Oliver Middleton, and Duncan Graves The Financial Conduct Authority (FCA) announced today, 1 May 2020, that it is taking steps to resolve contractual uncertainty in business interruption (BI) insurance cover in light of COVID-19 and intends to apply urgently for a … Continue Reading
Key issues that typically arise in connection with debt repurchase programs. By Rob Moulton and Anna Lewis-Martinez Market shifts often lead companies and their affiliates to actively consider debt repurchases. Important legal considerations include: contractual restrictions; potential disclosure obligations; listing implications; the impact of tender offer rules; consequences of debt purchase transactions; how debt purchase … Continue Reading
