Tuesday, 18 June 2013

UK: England and Wales: client money distribution and the jurisdiction of the court

The ICLR, as part of its free case summary service, has provided a summary for the recent High Court decision Re MF Global UK Ltd (in special administration) [2013] EWHC 1655 (Ch): see here. The headnote reads: "The court had an inherent jurisdiction to give such directions as would enable the administrators of a regulated investment firm, holding client money under rules imposing a statutory trust, to put in place a client money distribution procedure for dealing with rejected claims and unknown claims which could provide a degree of certainty and protection and ensure a timely return of client money."

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