Heis and Others v Attestor Value Master Fund Lp and Another: ChD 16 Aug 2013

‘This application raises issues concerning the relationship between the rules governing the distribution of client money to clients as beneficiaries of the trust and the rules governing the proof and payment of debts due to clients as creditors. Specifically, the issues concern, first, the extent to which a distribution of client money reduces the amount for which a client may prove or the amount which a client may be paid as a creditor and, secondly, whether a claim in respect of a shortfall in the client money trust is a provable debt and, if so, the principles governing its amount. ‘

David Richards J
[2013] EWHC 2556 (Ch), [2013] WLR(D) 339
Bailii, WLRD

Insolvency

Updated: 19 November 2021; Ref: scu.514980