Insolvency Policy for Transfer of Assets at Undervalue

enquiries@elite-insurance.co.uk — Wed, 19 Sep 2007 20:24:32 GMT

C was a company in liquidation having been asset striped by newly appointed directors in the same week the company went into liquidation. The Liquidator sought damages for, inter alia, breach of fiduciary duty as well as return of goods. A policy was taken out by the Liquidator during the course of proceedings. The level of indemnity was £500,000. The matter was settled on the day of the trial and £2,000,000 damages in addition to the full premium and costs were recovered.

Commercial Policy for Debt Recovery

enquiries@elite-insurance.co.uk — Wed, 19 Sep 2007 20:23:29 GMT

C was a commercial entity owed aproximately £20,000 by D. C took a commercial ATE legal expenses insurance policy out with Elite at the otset of the claim. The premium was rate based having risk assessed the prospects of success. There were no complex points of law and D was solvent. Proceedings were eventually issued and soon after a full recovery was made by C from D. Costs were assessed and the full premium of £6,005.00 was recovered. The level of indemnity provided was £20,000. The solicitors for C also recovered a success fee on their CFA.

Case Studies from Elite Insurance

Insolvency Policy for Transfer of Assets at Undervalue

Commercial Policy for Debt Recovery