Parties said that assets of the insolvent company were held by it in trust for them.
Held: The court had no jurisdiction to sanction a scheme of arrangement proposed by the administrators between the company and former clients who had proprietary interests in the assets held by the company or on its behalf.
Judges:
Blackburne J
Citations:
[2009] EWHC 2141 (Ch)
Links:
Statutes:
Insolvency Act 1986, Companies Act 2006
Jurisdiction:
England and Wales
Cited by:
Appeal from – Lehman Brothers International (Europe), Re Insolvency Act 1986 CA 6-Nov-2009
The insolvent company held assets for its clients. The liquidators proposed a scheme of arrangement which would allow them protection.
Held: The 2006 Act was to allow arrangements between a company and its creditors. The company’s former . .
Lists of cited by and citing cases may be incomplete.
Company, Insolvency
Updated: 11 September 2022; Ref: scu.374037
