Lloyd's To Detail Final Offer To Its Names
NEWS
LONDON -- Lloyd's of London will tell more than 700 investors this month how much they must pay towards the insurance market's 1996 "reconstruction and renewal" programme to avoid action for debt recovery.
Letters will be sent to the investors -- known as Names -- setting out the amount each owes under the terms of a settlement that requires them to pay 30%--35% of outstanding liabilities.
They will have a month to decide whether to accept. An independent panel will assess the ability of Names
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