CLEAVER AND BODDEN v DELTA AMERICAN REINSURANCE CO

[2002] Lloyd's Rep IR 167

JUDICIAL COMMITTEE OF THE PRIVY COUNCIL

Before Lord Steyn, Lord Lloyd of Berwick, Lord Cooke of Thorndon, Lord Scott of Foscote and Sir Patrick Russell

Reinsurance - Retrocession - Liquidation of retrocedant - Action by liquidators against retrocessionaire - Retrocessionaire paying sum to Court by way of security - Liquidation of retrocessionaire - Claim by retrocedant - Whether amount paid by way of security formed part of hotchpot - Whether retrocedant could claim IBNR - Rate of interest.