Lehman Brothers International (Europe) (in administration) - client money and assets update 27/03/09

Have the administrators considered the impact of the recent High Court judgment relating to client money held by Global Trader Europe Limited (in liquidation)?

The financial services firm Global Trader went into administration on 15th February 2008. The judgment reached by the High Court on 24th March 2009 represents the first time that, in the context of the Global Trader liquidation, it has ruled publicly on the treatment of segregated and un-segregated client money. Although the LBIE client money situation is more complex, the judgment is relevant to a number of the legal issues that have arisen in the LBIE Administration. The Joint Administrators recognise the importance of the judgment and are, as a matter of priority, analysing it and its potential impact on LBIE's treatment of client money claims.