Jenner & Block

Client Advisory: Scottish Lion: UK Court Permits Solvent Scheme to Proceed to Merits Hearing Over U.S. Policyholder Objections

In this client advisory, Associate Brian S. Scarbrough discusses the recent opinion of a Scottish appellate court on the issue of whether the Scottish Lion Insurance Company should be permitted to enter into what is known under U.K. law as a “solvent scheme of arrangement” in order to close off liabilities with its creditors (policyholders), including U.S. creditors who have opposed the scheme.