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Insurer's liquidation did not frustrate a prior settlement agreement to reinstate statutory accident benefits.
The applicant was injured in a motor vehicle accident and received statutory accident benefits until they were terminated by the insurer.
The parties' lawyers reached a settlement agreement over the telephone to reinstate benefits and pay arrears.
Shortly after, the insurer went into liquidation and repudiated the agreement, arguing it was frustrated by the winding-up order.
The arbitrator held that the settlement agreement was valid, not frustrated by the liquidation, and ordered the insurer to pay the agreed benefits, a special award for unreasonably withholding payments, and the applicant's arbitration expenses.
