A distribution of millions of dollars is in prospect for owner members of a protection-and-indemnity (P&I) club that ceased underwriting more than 15 years ago.
A deal that should allow the Liverpool & London Club to be finally wound up is understood to be close to being agreed.
A transfer of all outstanding risk of the more than 130-year-old club to a Maltese subsidiary of the Randall & Quilter (R&Q) group will require approval by the High Court in London — but it should be completed this year.
