Liquidators are being called in to wind down the London Authorities' Mutual Limited (LAML), despite government promises to change laws that disempowered it. Management consultancy, Charles Taylor and Co, is making a petition to the courts to appoint provisional liquidators, after an agreement was made to ensure a ‘timely and orderly' winding-up of LAML's insurance-related matters. LAML chairman, Nathan Elvery, said: ‘At all times, it was believed the new wellbeing powers were adequate for the establishment of mutuals. ‘In due course, the idea will resurface so that local authorities and the insurance industry can work together constructively for the public good.'
