“Savers in banks and building societies will have the first £35,000 of their deposits 100 per cent guaranteed from today under reforms to prevent a repeat of the Northern Rock affair.”
The Times, 1st October 2007
Source: www.timesonline.co.uk
Prudential Assurance Co. Ltd. v. PRG Powerhouse Ltd. and others; Luctor Ltd. v. PRG Powerhouse Ltd. and others [2007] EWHC 1002 (Ch)
“A company voluntary arrangement which contained terms releasing guarantees given by the defendant’s parent company to the claimant creditors, unfairly prejudiced the claimants within the meaning of s 6(1)(a) of the Insolvency Act 1986.”
WLR Daily, 1st May 2007
Source: www.lawreports.co.uk
Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.
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