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Feb 18, 2013

The “Hindsight” Principle Does Not Apply to Client Money Claims in UK Broker Insolvencies

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The High Court in London has held that clients of insolvent UK brokers are entitled to a claim based on the value of their open positions as at the date of entry into administration or liquidation, rather than based on the value actually realised when those positions are closed. The “hindsight” principle—that where assets are later actually valued, actual values should be used—is not applicable.

View full memo, The “Hindsight” Principle Does Not Apply to Client Money Claims in UK Broker Insolvencies

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

Jo Rickard

Partner

Litigation

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+44 20 7655 5781

London

Patrick Clancy

Partner

Finance

+44 20 7655 5878

+44 20 7655 5878

London

James Duncan

Partner

Finance

+44 20 7655 5757

+44 20 7655 5757

London

Fredric Sosnick

Partner

Financial Restructuring & Insolvency

+1 212 848 8571

+1 212 848 8571

New York

Solomon J. Noh

Partner

Financial Restructuring & Insolvency

+44 20 7655 5795

+44 20 7655 5795

London

Ellerina Teo

Senior Associate

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5070

+44 20 7655 5070

London