THE EUROPEAN ASSURANCE COSI . PANY,

Grey River Argus, Volume XII, Issue 1413, 10 February 1873, Page 2

THE EUROPEAN ASSURANCE COM PANY.

In the European Assurance arbitration case, when dealing with, the knotty question of "novation," Lord Westbury has given decisions quite the reverse of those adopted by Lord Cairns as arbitrator of the Albert office. These conflicting decisions have led to great confusion and practical inconvenience. Meanwhile the sittings have been adjourned till January next. Acting on Lord Westbury'a dictum, the liquidators have issued a circular with regard to the payment of premiums between the 10th of June, 1871, whehthe petition for winding-up was presented, andtb,e 12th of January, 1872, when the, winding-up order was granted by the Court 6i Chancery. Those pqlicy-h,ol4er| who have not paid the premiums f ailing due between the two dates, or who, having paid the premiums to the suspense fund, haje had them returned, are now called upon either to complete their payments to the date of winding-up, or to forfeit their right of proof on the policy itself; while those who have paid the premiums, and have not had the amount returned, are offered the restoration of the sums, on condition that proof should be renounced and the policy cancelled.