BACKGROUND On or about 10 March 2003, Charter Life Insurance Company Ltd (“Charter”) entered into a written broking Agreement (“the Agreement”) with ECE Financial Holdings (“ECE”). In terms of the Agreement, ECE was to act as an independent intermediary for Charter’s financial products and as compensation for same, ECE would receive commission on premiums Charter
THE DEFAULT JUDGMENT The High Court of Justice (Business and Property Courts in Manchester) (the “Court”) heard a case in which Praetura Asset Finance Limited (the “Claimant”) sought to recover approximately £1,500,000.00 (One Million Five Hundred Thousand Pounds) from Derek Thomas Hood (the “Defendant”) in terms of an unregulated hire purchase agreement which involved a