International Corporate Rescue
Journal Issues
Vol 16 (2019) - Issue 3
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Burlington Loan Management and others v Lomas and others (as the joint administrators of Lehman Brothers International (Europe) (in administration)) [2017] EWCA Civ 1462
Madeleine Jones, Barrister, South Square, London, UKSynopsis
The Court of Appeal has clarified a number of issues relating to the calculation of statutory interest under r. 2.88(7) of the Insolvency Rules 1986.
Introduction
On 24 October 2017, the Court of Appeal (Gloster LJ, Patten LJ and Lord Briggs JSC), handed down judgment in the appeal one tranche of the so-called Waterfall litigation, dealing with the proper distribution of funds in the solvent administration of Lehman Brothers International (Europe) ('LBIE').
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