ORION INSURANCE CO. PLC. v. SPHERE DRAKE INSURANCE PLC.

[1992] 1 Lloyd's Rep. 239

COURT OF APPEAL

Before Lord Justice Lloyd, Lord Justice Stuart Smith and Lord Justice Mann

Insurance (Marine and Non-Marine) - Pool agreement - Defendants got into financial difficulties - Meeting between plaintiffs and defendants to agree disposal of all liabilities under the pool agreement - Written record of meeting signed by all parties - Whether parties agreed that agreement to be goodwill agreement only and not legally binding - Whether defendants could rely on estoppel.