Source: All England Reporter
Publisher Citation: [2009] All ER (D) 122 (Jul)
Neutral Citation: [2009] EWHC 1633 (Ch)
Court: Chancery Division
Judge:

Peter Smith J

Representation Richard Snowden QC and Ben Shaw (instructed by Freshfields Bruckhaus Deringer LLP) for the administrators.
  Stuart Isaacs QC and Marcus Haywood (instructed by Pinsent Mason LLP) for the first respondent.
  Lloyd Tamlyn (instructed by Nabarro LLP) for the second respondent.
  Richard Gillis QC and Sam O'Leary (instructed by Herbert Smith LLP) for the third respondent.
  Robin Dicker QC and Andreas Gledhill (instructed by Slaughter and May and Denton Wilde Sapte LLP) for the Treasury and the fifth respondent.
  Mary Stokes (instructed by Freshfields Bruckhaus Deringer LLP) for the sub-category 8 creditors
Judgment Dates: 10 July 2009

Catchwords

Bank - Account - Trust account - Financial Services Authority ordering second respondent bank to match deposits by making payments into a segregated trust account - Bank entering administration - Applicant administrators seeking determination of preliminary issues - Whether segregated trust valid.

The Case

Bank Account. Chancery Division: On the application of the administrators of the second respondent bank for the determination of certain issues by the High Court, it was ruled, inter alia, that the segregated trust account the bank had been ordered to create and pay monies into by the Financial Services Authority had been valid.

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