UK Court Expands Access To Lehman Client Cash Pool

Law360, New York (February 29, 2012, 8:55 PM EST) -- The U.K. Supreme Court ruled Wednesday that Lehman Brothers International Europe customers whose funds weren't set aside in segregated accounts should share in distributions from a pool of client money with the insolvent company, finding that their money was still protected.

The decision clears the way for hedge funds including CRC Credit Fund Ltd. and Lehman affiliates whose funds were mixed in with other company accounts to take advantage of a pot of client money that customers with funds in segregated accounts argued belonged to them....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.