Source: All England Reporter
Publisher Citation: [2013] All ER (D) 139 (Jun)
Neutral Citation: [2013] EWHC 1655 (Ch)
Court: Chancery Division, Companies Court
Judge:

David Richards J

Representation Antony Zacaroli QC and Adam Al-Attar (instructed by Weil, Gotshal & Manges) for the applicants.
Judgment Dates: 14 June 2013

Catchwords

Insolvency - Administration order - Distribution - Administrators being appointed in respect of investment bank - Client monies being held on trust in accordance with relevant rules - Administrators seeking directions in respect of distribution of client money - Whether court having jurisdiction to make order sought.

The Case

Insolvency Administration order. On an application by the administrators of MF Global UK Ltd, the Chancery Division, Companies Court, made an order governing the distribution of funds as client money by the administrators. In order to proceed with a distribution of the balance of the available funds, and to ensure the timely return of client money, a process was needed to deal with rejected claims and unknown claims which could provide a degree of certainty and protection.

Practice Areas

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