Invested interests

Home Income Plans are to come under the scrutiny of the House of Lords in an action between the Investors Compensation Scheme (ICS) and West Bromwich Building Society. Leave has been granted for ICS to appeal against decisions of the Chancery Division and the Court of Appeal in which it was held in respect of a preliminary issue that an arrangement under which ICS paid compensation and took assignment of investors' rights of action against third parties was invalid.