Saturday 01 August 1998
LLOYD'S of London can proceed with plans to reclaim more than pounds 150m in connection with the insurance market's record pounds 8bn losses in the past after the Court of Appeal refused an application for an appeal by a more than 500 of its individual backers, known as Names. Lloyd's and a group of non-accepting Names have been battling in the courts since then. Philip Holden, the head of Lloyd's financial recovery department, said: "This is the end of the long road of litigation for those Names who have not paid their debts. All the appropriate enforcement measures will now be pursued as soon as possible."
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