Third party unable to establish specific claim over insurance payout after defendant enters voluntary liquidation

Hebe Swain of Stewarts summarises the Court of Appeal’s decision in Desai v Wood, which confirmed insurance proceeds paid to an insolvent policyholder remain general estate assets rather than being ringfenced for third-party claimants, underscoring that claimants can only secure direct rights if insolvency occurs before payment or if contractual protections are expressly agreed.

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