This Friday I will be attending the Second Court Hearing on the Part VII proposal to transfer the long-term business of Equitable Life of Equitable Life Assurance Society, of which I am a policyholder, to Utmost Life and Pensions Limited.
I will be arguing that the Part VII transfer be blocked on the grounds that Utmost is financially much weaker than ELAS, because ULP’s balance sheet is propped up by £97m in non-existent capital created by an unsound practice called Matching adjustment.
If you are a regular reader you will be familiar with many of the arguments I will give, but the hearing is public so you may be interested in hearing them afresh, and seeing how the Court deals with them.
The hearing is on Friday 22 November 2019 at the Royal Courts of Justice, 7 Rolls Buildings, Fetter Lane, London, EC4A 1NL. Anyone is entitled to attend. The room location will be published on Thursday 21st.