Client Money Resolution – Court’s permission to enter into the settlement granted
Further to the updates on 5 June 2014 (available here) and 19 June 2014 (available here) concerning the Client Money Resolution Application, at the substantive hearing on 3 July 2014 the court made an order (PDF 945 KB) (available here) which, in summary:
a) granted permission to enter into the proposed settlement between the CMP and the General Estate;
b) permitted the release of provisions made for “allocated but unclaimed” client money made pursuant to Rule 11(1) of the Client Money Distribution Procedure attached as Schedule A to the Order of the Court dated 11 June 2013 (available here) and
c) approved payment of certain uncollected client money distributions into the Insolvency Service Account at the Bank of England.
The judgment on the application (PDF 68 KB) (available here).
Further updates regarding the settlement mechanics will be posted on the website as necessary. If you have further questions which are not addressed on the website, or would like hard copies of documents (free of charge) please email email@example.com or call +44 (0) 20 7785 0308 where a member of the Administrators’ staff will be able to assist.