6 Apr 1995
MERCANTILE MUTUAL HOLDINGS LTD. v. NEW HAMPSHIRE INSURANCE CO.
- Citation
- MERCANTILE MUTUAL HOLDINGS LTD. v. NEW HAMPSHIRE INSURANCE CO.
- Court
- Court of Appeal
- Case number
- CACV197/1994
Section 132 of the Financial Services Act 1986 applies retrospectively to save pre-1987 reinsurance from being void for lack of UK authorisation; in absence of a claims co-operation clause the reinsurance must follow the insurer's settlements so the claims were recoverable; the non-disclosure and fiduciary participation grounds did not disclose triable issues and leave to defend could properly be confined to the illegality point which failed.