CHANCERY DIVISION
COMPANIES COURT
B e f o r e :
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IN THE MATTER OF THE COMPANIES ACT 2006 |
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AND |
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IN THE MATTER OF CARD PROTECTION PLAN LIMITED |
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Official Court Reporters and Audio Transcribers
One Quality Court, Chancery Lane, London WC2A 1HR
Tel: 020 7831 5627 Fax: 020 7831 7737
info@beverleynunnery.com
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Crown Copyright ©
MRS. JUSTICE PROUDMAN:
1) The provision of a single, convenient and straightforward mechanism for obtaining redress, regardless of the type of sale.
2) Reduction in the risk of the company becoming insolvent.
1) It will provide an end date after which its liability will be extinguished, thereby providing greater certainty.
2) Except in the event of a Business Partner's insolvency, the company's liability will be limited to its own direct sales as the Business Partner will assume liability for redress themselves.
3) The company will be released from its contingent liability to the Business Partners under the warranties and indemnities. Uncertainty as to the extent of its liabilities could well make it more difficult to attract investment and long term finance.