01 September 2017
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.
