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In Re Lehman Brothers International (Europe)
''Re Lehman Brothers International (Europe)'' 012UKSC 6is an English trusts law and UK insolvency law case, concerning the certainty of subject matter to create a trust. Facts Lehman Brothers International (Europe) was the UK subsidiary of Lehman Brothers Holdings Inc, the US parent that had gone in Chapter 11 bankruptcy proceedings. It had held money on behalf of many clients, including some affiliates of Lehman. The client money rules of Financial Services Authority were in the Client Assets Sourcebook, chapter 7, issued under the FSMA 2000 section 138. FSMA 2000 section 139 permitted FSA rulemaking for ‘clients’ money being held on trust in accordance with the rules’, and accordingly CASS 7.7.2R said that client money was to be held on trust for the purpose of the client money rules. If a firm failed, the client money distribution rules in CASS 7.9 applied. But under CASS 7.4, a firm could either (1) pay money into a segregated account or (2) put the money into the fir ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hunter V Moss
''Hunter v Moss'' 994 1 WLR 452 is an English trusts law case from the Court of Appeal concerning the certainty of subject matter necessary to form a trust. Moss promised Hunter 50 shares in his company as part of an employment contract, but failed to provide them. Hunter brought a claim against Moss for them, arguing that Moss's promise had created a trust over those 50 shares. The constitution of trusts normally requires that trust property be segregated from non-trust property for the trust to be valid, as in ''Re London Wine Co (Shippers) Ltd''. 986PCC 121 On this occasion, however, both Colin Rimer in the High Court of Justice and Dillon, Mann and Hirst LJJ in the Court of Appeal felt that, because this case dealt with intangible rather than tangible property, this rule did not have to be applied. Because all the shares were identical, it did not matter that they were not segregated, and the trust was valid. The decision was applied in ''Re Harvard Securities'', creating a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2012 In British Law
1 (one, unit, unity) is a number representing a single or the only entity. 1 is also a numerical digit and represents a single unit of counting or measurement. For example, a line segment of ''unit length'' is a line segment of length 1. In conventions of sign where zero is considered neither positive nor negative, 1 is the first and smallest positive integer. It is also sometimes considered the first of the infinite sequence of natural numbers, followed by 2, although by other definitions 1 is the second natural number, following 0. The fundamental mathematical property of 1 is to be a multiplicative identity, meaning that any number multiplied by 1 equals the same number. Most if not all properties of 1 can be deduced from this. In advanced mathematics, a multiplicative identity is often denoted 1, even if it is not a number. 1 is by convention not considered a prime number; this was not universally accepted until the mid-20th century. Additionally, 1 is the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of The United Kingdom Cases
Supreme may refer to: Entertainment * Supreme (character), a comic book superhero * ''Supreme'' (film), a 2016 Telugu film * Supreme (producer), hip-hop record producer * "Supreme" (song), a 2000 song by Robbie Williams * The Supremes, Motown-era singer group * Supreme Pictures Corporation, 1930s film company Other * Supreme (brand), a clothing brand based in New York * Supreme (cookery), a term used in cookery * Supreme, Louisiana, a census-designated place in the United States * Supreme Soviet, the highest legislation body of Soviet Union, dissolved in 1991 * Oldsmobile Cutlass Supreme, car produced by Oldsmobile between 1966 and 1997 * Plaxton Supreme, British coach bodywork built in the late 1970s and early 1980s See also * Supreme Records (other), several record labels * Supremo (other) * Supreme court A supreme court is the highest court within the hierarchy of courts in most legal jurisdictions. Other descriptions for such courts include cour ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trusts Case Law
English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national identity, an identity and common culture ** English language in England, a variant of the English language spoken in England * English languages (other) * English studies, the study of English language and literature * ''English'', an Amish term for non-Amish, regardless of ethnicity Individuals * English (surname), a list of notable people with the surname ''English'' * People with the given name ** English McConnell (1882–1928), Irish footballer ** English Fisher (1928–2011), American boxing coach ** English Gardner (b. 1992), American track and field sprinter Places United States * English, Indiana, a town * English, Kentucky, an unincorporated community * English, Brazoria County, Texas, an unincorporated community ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Trust Law
English trust law concerns the protection of assets, usually when they are held by one party for another's benefit. Trusts were a creation of the English law of property and obligations, and share a subsequent history with countries across the Commonwealth and the United States. Trusts developed when claimants in property disputes were dissatisfied with the common law courts and petitioned the King for a just and equitable result. On the King's behalf, the Lord Chancellor developed a parallel justice system in the Court of Chancery, commonly referred as equity. Historically, trusts have mostly been used where people have left money in a will, or created family settlements, charities, or some types of business venture. After the Judicature Act 1873, England's courts of equity and common law were merged, and equitable principles took precedence. Today, trusts play an important role in financial investment, especially in unit trusts and in pension trusts (where trustees and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MiFiD
Markets in Financial Instruments Directive 20142014/65/EU commonly known as MiFID 2 (Markets in financial instruments directive 2), is a legal act of the European Union. Together with Regulation (EU) No 600/2014 it provides a legal framework for securities markets, investment intermediaries, and trading venues. The directive provides harmonised regulation for investment services of the member states of the European Economic Area — the EU member states plus Iceland, Norway, and Liechtenstein. Its main objectives are to increase competition and investor protection, and level the playing field for market participants in investment services. It repeals Directive 2004/39/EC (MiFID 1). MiFID 1 was a cornerstone of the European Commission's Financial Services Action Plan, whose measures changed how EU financial service markets operate. It is the most significant piece of legislation introduced in the Lamfalussy process designed to accelerate the adoption of legislation based on a f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Collins
Richard Henn Collins, Baron Collins (31 January 1842 – 3 January 1911) was an Anglo-Irish lawyer and judge. Life Born in Dublin, Collins was educated at the Royal School Dungannon and Trinity College Dublin (where he was elected a Scholar), and Downing College, Cambridge. In 1867, he was called to the English bar and joined the northern circuit. He was made a Queen's Counsel in 1883 and a judge in 1891. Having made a Lord Justice of Appeal in 1897, he was appointed also to the Privy Council. In October 1901, Collins became Master of the Rolls after the death of Sir Archibald Smith, and the following month was appointed to the accompanying post of Chairman of the Historical Manuscripts Commission. He received the honorary degree LL.D. from the University of Cambridge in May 1902. On 6 March 1907 he was appointed a Lord of Appeal in Ordinary, receiving additionally a life peerage with the title Baron Collins, ''of Kensington in the County of London''. He resigned as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Dyson
John Anthony Dyson, Lord Dyson, (born 31 July 1943) is a former British judge and barrister. He was Master of the Rolls and Head of Civil Justice, the second most senior judge in England and Wales, from 2012 to 2016, and a Justice of the Supreme Court of the United Kingdom from 2010 to 2012. He was the first justice to be appointed who was not a peer. Early life Dyson has an East European Jewish heritage. His mother was Bulgarian and his paternal grandparents Lithuanian. He was born in Yorkshire and educated at Leeds Grammar School. He studied the piano with Dame Fanny Waterman. He then studied classics at Wadham College, Oxford. He was called to Bar at the Middle Temple in 1968. Legal career Dyson took silk in 1982 and was appointed a Recorder in 1986. He became a bencher of Middle Temple Inn in 1990. He was the head of 39 Essex Chambers from 1986 to 1993. He was appointed to the Bench of the High Court on 30 March 1993, sitting in the Queen's Bench Division, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anthony Clarke, Baron Clarke Of Stone-cum-Ebony
Anthony Peter Clarke, Baron Clarke of Stone-cum-Ebony, (born 13 May 1943) is a British lawyer. He was one of the first 11 Supreme Court of the United Kingdom Justices and was the first High Court judge to be appointed directly to that court when it came into existence on 1 October 2009 without previously having sat as a Lord of Appeal in Ordinary. He was appointed to the Court of Final Appeal of Hong Kong on 11 April 2011 as a non-permanent judge. He was previously Master of the Rolls and Head of Civil Justice in England and Wales. He retired from the Supreme Court in September 2017. Early life and education Clarke was born to Harry and Isobel Clarke. He was educated at Oakham School. In 1957 the trial of suspected serial killer John Bodkin Adams first made him interested in pursuing a career in the law. He read Economics and Law at King's College, Cambridge. Career He was called to the Bar at Middle Temple in 1965. He developed a commercial and maritime law practice. He b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arden LJ
Mary Howarth Arden, Baroness Mance, , KC, PC (born 23 January 1947), known professionally as Lady Arden of Heswall, is a former Justice of the Supreme Court of the United Kingdom. Before that, she was a judge of the Court of Appeal of England and Wales. Early life and education Mary Howarth Arden was born in Liverpool, the daughter of Lieutenant-Colonel Eric Cuthbert Arden, of Heswall, Cheshire, a solicitor who had served with the Royal Garrison Artillery, and Mary Margaret (née Smith). Her grandfather was a partner in Gamon Arden and Co., a Liverpool firm of solicitors. Her father and brother, Roger, joined the family firm which merged with Hill Dickinson in 2007. She was brought up in south Liverpool and educated at Huyton College. She read law at Girton College, Cambridge, where she gained a starred first and an LLM, and an LLM degree at Harvard Law School in 1970 as a Kennedy Scholar. Career She was called to the bar at Gray's Inn in 1971, and joined Linc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Insolvency Law
United Kingdom insolvency law regulates companies in the United Kingdom which are unable to repay their debts. While UK bankruptcy law concerns the rules for natural persons, the term insolvency is generally used for companies formed under the Companies Act 2006. "Insolvency" means being unable to pay debts. Since the Cork Report of 1982, the modern policy of UK insolvency law has been to attempt to rescue a company that is in difficulty, to minimise losses and fairly distribute the burdens between the community, employees, creditors and other stakeholders that result from enterprise failure. If a company cannot be saved it is "liquidated", so that the assets are sold off to repay creditors according to their priority. The main sources of law include the Insolvency Act 1986, the Insolvency Rules 1986 (replaced in England and Wales from 6 April 2017 by the Insolvency Rules (England and Wales) 2016 – see below), the Company Directors Disqualification Act 1986, the Employment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
