FCA concludes BI test case

The Financial Conduct Authority has confirmed that its High Court business interruption insurance test case has concluded, and that judgement is awaited. Lord Justice Flaux expressed a hope that judgement would be available by the middle of September, though he made no commitment to a date.

After the judgement, a party may appeal the court’s decision, subject to procedural rules for seeking permission to appeal and making an appeal. If this happens, the parties to the test case have agreed as part of the Framework Agreement that they will seek to have any appeal heard on an expedited basis.

This includes exploring the possibility of a leapfrog appeal to the Supreme Court (an appeal which would not need to be heard by the Court of Appeal first).

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