EEA Life Settlements shareholders approve restructure

Investors who have been trapped in the suspended EEA Life Settlements fund for nearly two years yesterday voted in favour of restructuring the company.

In total, 65% of investors cast a vote at the meeting, with 96% of them approving the restructure, which will be implemented on 1 November. In September investors were told their approval was needed by the board so it could present its restructuring proposals to the Guernsey Financial Services Commission. EEA said if it did not get the approvals, it would consider appointing a liquidator. It said: "In the event such approval [from shareholders] is not obtained, the company will not be able to proceed with the restructuring proposal and the directors will have to reconsider the futu...