Mr Justice Snowden has given the reasons behind the decision in December 2015 sanctioning an insurance business transfer scheme pursuant to Part VII of the Financial Services and Markets Act 2000 (FSMA) and making a number of ancillary orders which included an order for the applicant’s dissolution. The scheme transferred the entire insurance business of the applicant, The Copenhagen Reinsurance Company (UK) Limited, to Marlon Insurance Company Limited. He notes satisfaction that the scheme met all certification and authorisation requirements, that the capital coverage ratio of Marlon after the scheme would still be in excess of that for an adequately capitalised company and that the court has sufficient power to modify guarantees with a reasonable expectation of recognition of the sanctioning order from relevant jurisdictions. The decision was made on this basis and it was deemed appropriate for the applicant to be dissolved without being wound up once the scheme has taken effect and its authorisation has been withdrawn. (Source: High Court decision sanctioning transfer scheme – Copenhagen Reinsurance and Marlon)