Tracking Scottish Lion

Law360, New York (February 19, 2010, 4:49 PM EST) -- For nearly a year, the Scottish Lion Insurance Company Limited, an insurance company that wrote coverage in the London insurance market, has been litigating with its creditors (policyholders), including many U.S. creditors, to permit it to enter into what is known under U.K. law as a solvent scheme of arrangement.

A Scottish appellate court recently ruled in favor of Scottish Lion on a preliminary question of whether such a scheme could be sanctioned under U.K. law despite opposition from a minority of U.S. creditors.

Scottish Lion...
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