Wednesday, January 19, 2005

Insurance company seeks court leave for deal

The directors of Savignon Financial Services Limited have applied to the Supreme Court of Gibraltar for a declaration that it is lawful to accept the offer made by European Financial Planning Group Limited, it has emerged. The move, which will lead to the acquisition of the insurance firm’s business, is announced in an advertisement today. This follows a furore over losses suffered by TEP plan holders. The application will be heard at the Supreme Court this Friday at 2pm.

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