Judgments handed down in "Waterfall II" application
Mr Justice David Richards today handed down two judgments relating to the Lehman Brothers Waterfall II application, which address a number of important and novel points of insolvency law arising from the £7 billion surplus in the estate of Lehman Brothers International (Europe) (“LBIE”).
Five silks and seven juniors from South Square, representing six different parties, appeared on the application: William Trower QC, Daniel Bayfield, Stephen Robins and Alexander Riddiford (representing the joint administrators of LBIE); Robin Dicker QC, Richard Fisher and Henry Phillips (representing the First to Third Respondents); Antony Zacaroli QC, David Allison QC and Adam Al-Attar (representing the Fourth Respondent); and Tom Smith QC and Robert Amey (representing the Fifth Respondent).
Click here for a summary of both the Part A and Part B judgment.
Click here for Part A full judgment
Click here for Part B full judgmentView all news