Rowan Pennington-Benton discusses legitimate expectations in times of financial crisis

To what extent should the courts hold governments to public assurances given to groups of people? During periods of financial and economic turmoil, the question is an important and timely one. In United Policyholders Group v The Attorney General of Trinidad and Tobago [2016] UKPC 17 (the UPG case) the Privy Council confronted this issue, providing some guidance and clarification of the law on legitimate expectations.

The case concerned the collapse of CLICO, a major insurance company and part of the CL Financial group (CLF) '“ an organisation with assets totalling around 70 per cent o...

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21 Sep 2016 | Practice Area