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On February 28 last the European Commission published the Draft Agreement on the withdrawal of the United Kingdom from the European Union (“EU”).

On 29 February 2012, the Supreme Court of the United Kingdom handed down its long-awaited judgment on client money issues in the context of the Lehman's Administration. The judgment has an important bearing on likely recoveries for both segregated and non-segregated clients, the further work to be conducted by the Administrators and timing of distributions.

Summary

The Supreme Court has found that: