Evening Telegraph (First Edition)
Dee’s High Court win as insurance test case is found in their favour
DUNDEE FC have scored a vital victory in the High Court.
A test case brought by the Financial Conduct Authority (FCA) on behalf of organisations like the Dark Blues, who have business interruption (BI) insurance, has been successful.
The Dens Park club hope their policy will help protect them from the financial impact of coronavirus and the legal ruling has now gone in their favour.
The High Court found in favour of the arguments advanced for policyholders on the majority of the key issues.
The decision, though, could be appealed.
Christopher Woolard, interim chief executive of the FCA, said: “We brought the test case in order to resolve the lack of clarity and certainty that existed for many policyholders making business interruption claims and the wider market.
“We are pleased that the Court has substantially found in favour of the arguments we presented on the majority of the key issues.
“Today’s judgment is a significant step in resolving the uncertainty being faced by policyholders.”
In a club update to fans towards the end of last month, Dundee stressed the importance of a positive outcome.
They stated: “We await an update regarding our insurance policy and while this was always destined to be a long process it is still a frustrating wait.
“As previously stated, we do not expect to see any initial payment on our current insurance quantum until the Financial Conduct Authority obtains a ruling from the High Court and that process is ongoing.
“The result of this hearing will determine the extent of liability the individual insurers have. We will look to update regarding refunds surrounding the 2019/20 season when we have more information from our insurance claim.”