City of Glasgow Life Assurance Co. and Scottish Union and National Insurance Co. Petitioners [1913] ScotLR 787 (25 June 1913)

City of Glasgow Life Assurance Co. and Scottish Union and National Insurance Co. Petitioners [1913] ScotLR 787 (25 June 1913)

The Court dispensed with the transmission of documents to the policyholders of the second company because the transfer would not affect their interests or make their funds liable for the obligations of the first company, and the cost and trouble of transmission would be considerable.

Citation
[1913] ScotLR 787
Parties
Petitioner: City of Glasgow Life Assurance Company; Petitioner: Scottish Union and National Insurance Company
Jurisdiction
Scotland
Judgment Date
25 June 1913
Procedural Posture
Petition for Court Sanction of Business Transfer Under Statute / Interlocutor on Preliminary Application
Outcome
Application granted in part; Court dispensed with transmission of documents to policyholders of the second company and appointed further procedure.
Legal Topics
Life Assurance, Transfer of Business, Statutory Compliance, Dispensation of Notice
Insurance Law Company Law Life Assurance Transfer of Business Statutory Compliance Dispensation of Notice

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Parties

City of Glasgow Life Assurance Company

Petitioner

Scottish Union and National Insurance Company

Petitioner

Procedural Posture

Petition for Court Sanction of Business Transfer Under Statute / Interlocutor on Preliminary Application

Legal Issues

  1. 1 Whether the Court should dispense with the statutory requirement to transmit documents to policyholders of the transferee company under Assurance Companies Act 1909, sec. 13(3)(b)

Ratio Decidendi

The Court dispensed with the transmission of documents to the policyholders of the second company because the transfer would not affect their interests or make their funds liable for the obligations of the first company, and the cost and trouble of transmission would be considerable.

Court Disposition

Application granted in part; Court dispensed with transmission of documents to policyholders of the second company and appointed further procedure.

Orders

  • Dispensed with transmission of documents to policyholders of Scottish Union and National Insurance Company as prayed.
  • Appointed petition to be intimated and advertised, allowing interested parties to lodge answers within eight days.