ARTICLE · 04 AUGUST 2005

BAIC Scheme of Arrangement: sanction refused

CMS Cameron McKenna Nabarro Olswang

Explore more from CMS Cameron McKenna Nabarro Olswang

Judgment in the case of the British Aviation Insurance Company Limited ("BAIC") was given on 21 July 2005. The judge refused to sanction the scheme of arrangement proposed by BAIC to its creditors under section 425 of the Companies Act 1985.

United KingdomTransport

Inga West

Peter Fidler

Judgment in the case of the British Aviation Insurance Company Limited ("BAIC") was given on 21 July 2005. The judge refused to sanction the scheme of arrangement proposed by BAIC to its creditors under section 425 of the Companies Act 1985. The purpose of the scheme was to terminate the run-off of part of the company’s insurance and reinsurance business.

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Judgment in the case of The British Aviation Insurance Company Limited ("BAIC") was given on 21 July 2005. The judge refused to sanction a solvent scheme of arrangement proposed by BAIC to its creditors under section 425 of the Companies Act 1985. The purpose of the scheme was to terminate the run-off of part of the company’s insurance and reinsurance business.

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