The two insurance entrepreneurs behind the failed South of England Protection and Indemnity Association are to face legal action.
The court-appointed liquidators of the “hopelessly insolvent” protection-and-indemnity (P&I) club that collapsed three years ago are accusing the pair of mismanagement and wrongful conduct.
Neil Bell and Julian Wade established the South of England Club at the 20 February 2004 renewal, bidding to attract older vessels that were unwanted by the major International Group clubs and too big for the fixed-premium P&I schemes.
But
