Trusts Notwithstanding, Courts Remain Free to Find Scheme Jurisdiction
Butterworths Journal of International Banking and Financial Law, Vol. 25, No. 3, p. 156, 2010
15 Pages Posted: 15 Mar 2010
Date Written: March 14, 2010
This article seeks to demonstrate that although the English Court of Appeal in Re Lehman Brothers International (Europe) considered that trusts fell outside the scheme jurisdiction under Part 26 of the UK Companies Act 2006, the English court remains free to find such scheme jurisdiction over certain trusts and may also recognize a foreign scheme compromising trusts under the UNCITRAL Model Law on Cross-Border Insolvency.
Keywords: Lehman Brothers International (Europe), client assets, trust assets, scheme of arrangement, English scheme jurisdiction, Australian scheme jurisdiction, recognition of foreign scheme, UNCITRAL Model Law on Cross-Border Insolvency
JEL Classification: K10, K11, K12, K19, K20, K22, K29, K30, K33, K39, K40, K41, K49
Suggested Citation: Suggested Citation