Source: All England Reporter
Publisher Citation: [2017] All ER (D) 44 (Aug)
Neutral Citation: [2017] EWHC 2031 (Ch)
Court: Chancery Division
Judge:

Hildyard J

Representation Felicity Toube QC and Hannah Thornley (instructed by Linklaters LLP) for the LBEL administrators.
  Tony Beswetherick (instructed by Hogan Lovells International LLP) for the LBH administrators.
Judgment Dates: 3 August 2017

Catchwords

Insolvency - Administration - Distribution to company members within administration

The Case

Insolvency Administration. In this rare and exceptional case, a proposal by joint administrators to appoint a director to a company already in administration (Lehman Brothers EuropeLtd), in order to distribute surplus funds to its sole member (Lehman Brothers Holdingsplc), as opposed to a creditor, was held to be legally permissible, as well as pragmatic and beneficial.

Practice Areas

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