ODYSSEY RE (LONDON) LTD ANOR v OIC RUN-OFF LTD (FORMERLY ORION INSURANCE CO PLC)

[2001] Lloyd's Rep IR 1

COURT OF APPEAL

Before Lord Justice Nourse, Lord Justice Brooke and Lord Justice Buxton

Reinsurance (run-off) - Agreement between pool members as to run-off of outstanding liabilities - Whether agreement intended to be legally binding - Trial in 1989 - Agreement held not binding - Later trial in 1997 - Agreement held binding - Whether director of party guilty of perjury - Whether 1989 judgment should be set aside - Whether perjury of non-party justified setting judgment aside - Whether director’s knowledge imputed to his company.