RE BALLAST PLC ST PAUL TRAVELERS INSURANCE CO LTD v DARGAN

[2007] Lloyd's Rep IR 742

CHANCERY DIVISION

Before Mr Justice Lawrence Collins

Insurance - Subrogation - Insurers indemnifying assured and seeking to exercise subrogation rights against third party - Assured becoming insolvent and going into liquidation-Liquidators wishing to disclaim contract with third party giving rise to subrogation rights - Whether insurers having equitable right over cause of action - Insolvency Act 1986, sections 178 and 181.