12 FEBRUARY 1994, Page 22

Truth or consequences

IF THERE IS such a thing as a moment of truth at Lloyd's of London, this is it. The offer to members closes on Monday, and Chatset, whose gloomy and accurate fore- casts have so long been the the scourge of the Lloyd's establishment, is for accepting: 'Our advice would be to take what is on offer and be grateful for small mercies.' (Charlie Sturge of Chatset has always been a poker player.) The alternative route lies through the courts, where Mr Justice Cresswell has been asked to postpone the first big Lloyd's case, over Gooda Walker. He has postponed his decision. There are no delays like the law's.