The Supreme Court yesterday ruled that client money held in un-segregated accounts should be treated the same as client money held in segregated accounts, enabling un-segregated account holders to share in the client money pool on the insolvency of a firm with whom the account is held.
United Kingdom, Banking, Insolvency & Restructuring, Litigation, RPC, Lehman Brothers, MiFID, Supreme Court of the United States
In a decision that may have implications for holders of community development district bonds and other similar “dirt bonds,” a Florida bankruptcy court has ruled that holders of community development district bonds do not always have plan voting rights when the underlying developer — as opposed to the development district itself — is the bankruptcy debtor.
USA, Florida, Insolvency & Restructuring, Public, Real Estate, Mintz, Bond (finance), Bankruptcy, Debtor, Interest, Voting, Municipal bond, Trustee, United States bankruptcy court, US District Court for Middle District of Florida