APPEALS COURT RULING CLEARS WAY FOR LLOYD'S RESTRUCTURING.Byline: Daily News Wire Services A federal appeals court removed what Lloyd's of London Not to be confused with Lloyds Bank or Lloyd's Register. Lloyd's of London is a British insurance market. It serves as a meeting place where multiple financial backers or “members”, whether individuals (traditionally known as said was the last legal obstacle to its $4.8 billion rescue plan, clearing a major threat to the world's most famous insurance market. The 4th U.S. Circuit Court of Appeals reversed a federal judge's CERTIFICATE, JUDGE'S, English practice. The judge who tries the cause is authorized by several statutes in certain cases to certify, so as to decide when the party or parties shall or shall not be entitled to costs. surprise ruling Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant that threatened to scuttle the intricate restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of Lloyd's. Lloyd's 34,000 investors worldwide, known as ``names,'' have until noon today to approve the plan ``by a substantial majority.'' Lloyd's said 82 percent of its investors worldwide have accepted the settlement so far. The plan would create a company called Equitas with funds of $18 billion. The new company would be responsible for current and anticipated claims. To participate, Lloyd's names are being asked to pay up to $150,000 and to relinquish any claims on future profits at Lloyd's or Equitas. |
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