English to Spanish Bus/Financial Insurance

The case involves the first court challenge to a "solvent scheme of arrangement." A growing number of solvent London Market insurance companies have been seeking to use a UK law, known as the "Companies Act," to set up these schemes, pursuant to which the insurers would set bar dates by which policyholders must present all their claims -- including future claims -- for final resolution. In many instances, these schemes have resulted in very low valuations of policyholders' contingent future liabilities, and have been used by insurers to clear their reserves and release surplus funds to their shareholders at the expense of policyholders and other creditors
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