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

[1990] 1 Lloyd's Rep. 465

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Hirst

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.