In re Lehman Brothers International (Europe) (in Administration) (No 2)
Court of Appeal
“A scheme of arrangement under Part 26 of the Companies Act 2006 required the arrangement to be made between the company and its creditors. Former clients of the company with proprietary interests held by the company in trust were not creditors, with the result that the court had no jurisdiction to sanction a scheme of arrangement which included those proprietary interests.”
The Times, 12th November 2009
Source: www.timesonline.co.uk
