Judgments handed down in "Waterfall II" application

Date: 31/07/2015

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 judgment 
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