Strategy (as of 14 January 2001)
The common interests of policy-holders that we are seeking are:
- Representation of Members' interests - Reform of the Board.
- Transparency on all Policyholders' liabilities and Fund performance.
- Long-term best disposition of Asset management.
- Certainty of no further litigation after any settlement.
- Removal of investment constraints to improve returns.
We emphasise that policy-holders have interests in common, not only benefits to fight over. To achieve certainty (or as near as possible) of no further litigation requires a settlement widely recognised as equitable. The means that we are using to further these interests are:
- Building up membership - to be able to call an EGM, or table motions at an AGM and wield useful numbers of proxies at an AGM.
- Pressing the Society to take Leading Counsel's opinion on the possibility of further legal proceedings to constrain or restrain the effects of the HoL decision.
- Cooperating with other members groups
- Negotiating with the Society's Board on reform.
- Exploring and encouraging settlement between policy-holders
We don't see voluntary settlement and legal proceedings as contradictory - indeed proceedings set the context for settlement - a favourable Counsel's opinion would be very helpful in moving to settlement and the conclusion of proceedings would mop up those that had not moved voluntarily one way or the other.
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