Global settlements: handle with extreme caution!
The Commercial Court's decision in Lumbermens caused great concern in the (re)insurance market, but has since come under fire in recent judgments. So where does this leave the law in relation to the recoverability of global settlements? Julian Miller and Daniel Silver answer your questions
Q: Why was the Lumbermens judgment so significant?
A: The issue for the (re)insurance market was the effectiveness of global settlements. Global settlements are commonplace, and often do not apportion
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