Lehman Brothers International (Europe) (in Administration) v CRC Credit Fund Ltd and Others (Financial Services Authority intervening) – WLR Daily

Posted March 2nd, 2012 in client accounts, financial regulation, insolvency, law reports, trusts by tracey

Lehman Brothers International (Europe) (in Administration) v CRC Credit Fund Ltd and Others (Financial Services Authority intervening): [2012] UKSC 6: [2012] WLR (D)  53

“The ‘client money pool’ to be distributed among former clients of Lehman Brothers’ London affiliate was not limited to money which had been placed in segregated client accounts, as required by the Financial Services Authority, but extended to identifiable client money which the company had failed to segregate and had retained in its own house accounts. The pool was to be distributed rateably among all clients who had a contractual entitlement to have money segregated and not just those in whose favour segregation had actually occurred.”

WLR Daily, 29th February 2012

Source: www.iclr.co.uk