Lloyd's Lodges First Writs against Names
Willcock, John, The Independent (London, England)
Rupert Galliers-Pratt, the colourful Old Etonian financier, Tony Gooda, of the Gooda Walker syndicates, and Robin Kingsley, of the Lime Street Agency, are among 150 names that are the subject of writs lodged yesterday by the Lloyd's of London insurance market.
Lloyd's is seeking to recover more than pounds 500m in unpaid debts from around 1,800 names who have refused to accept Lloyd's pounds 3.2bn compensation deal for losses incurred by the market in recent years.
Writs against another 50 or so names will be lodged in the High Court today. Lloyd's plans to take immediate legal action against 20 of the first 200 targets, but has refused to say who these will be. More than 32,000 names have signed up for the settlement package and, in return, agreed to end legal action against Lloyd's and its agents. A Lloyd's spokesman yesterday said he did not know what criteria Lloyd's had used to select the 200 names who are named in the first writs. The amount of money owed to Lloyd's by the 1,800 non-acceptors would have been reduced to around pounds 100m, had they accepted the settlement deal, the spokesman said. A list of the first 150, in possession of the …
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Publication information: Article title: Lloyd's Lodges First Writs against Names. Contributors: Willcock, John - Author. Newspaper title: The Independent (London, England). Publication date: October 11, 1996. Page number: 20. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.