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Lehman Brothers International (Europe) (No 2), Re: ChD 21 Aug 2009

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:

Bailii

Statutes:

Insolvency Act 1986, Companies Act 2006

Jurisdiction:

England and Wales

Cited by:

Appeal fromLehman 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

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