Treat Insolvency Rules as ‘a complete code’ for payment of statutory interest, rules Court of Appeal – Out-Law.com
The Court of Appeal has dismissed the application of representative creditors regarding the distribution of a surplus of LBIE’s estate and their entitlement to statutory interest for periods after the administration starting. This decision is the latest in the series of the Waterfall proceedings which relate to the administration of Lehman’s European business, LBIE. Upon…