Insolvency

01 September 2017

Issue: 7759 / Categories: Case law , Law digest

Re Lehman Brothers Europe Ltd (in administration) [2017] EWHC 2031 (Ch), [2017] All ER (D) 44 (Aug)

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

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