Slippery slope here I’m afraid - PI and Director and Officer insurance is often voided in circumstances where negligence and/or fraud are identified, This unfortunately leaves plaintiffs with limited options as litigation funders no Ionger have an insurance honey pot to go after.
The prospects of successful recovery directly from directors is painful - generally involving a long and expensive paper chase through many layers of corporate veils and subterfuge with many dead ends, empty vessels and ultimately men of straw.
It will be interesting to see what the regulators response is here and whether they believe there is a case to be answered for.
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