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Notice of Court Application Regarding Client Assets: Deadline for enquiries or comments (1pm, August 23) 

August 2011

 

This notice is to highlight that the Joint and Several Liquidators ("Liquidators") of LBSAL have filed an application with the Hong Kong High Court for direction in relation to the validity and/or enforceability of certain contractual provisions contained in agreements purportedly entered into between LBSAL and its clients ("Affiliate Clients") which purport to create security interests in favour of each of LBSAL and its affiliates over all the rights, title and interest of the Affiliate Clients in and to assets held by LBSAL ("Application"). The Application is scheduled to be heard August 24 at 0930am, the Hong Kong High Court.

 

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