Death of an insurance intermediary: client money distributions under CASS 5

In this article, Tina Kyriakides, a barrister at Radcliffe Chambers looks at client money distributions under CASS 5.  The key points arising from the article are as follows:

  • –In the recent case of Allanfield Property Insurance Services Ltd [2015] EWHC 3721 (Ch), [2015] All ER (D) 198 (Dec), the court considered its jurisdiction to give directions to administrators relating to issues arising from Chapter 5 of the Client Assets Sourcebook (‘CASS 5’)
  • The decision applied the principles laid down by the Supreme Court in Lehman Brothers International (Europe) (in administration) v CRC Credit Fund Ltd [2012] UKSC 6, [2012] All ER (D) 193 (Feb) (‘LBIE’) to CASS 5
  • ––The judge considered the proper scope of recoverable costs and disbursements that may be deducted from client moneys

Click here to download the article.

CRI will be sharing two articles per month on-line only. They will be available on the Randi blog one month after publication in LexisLibrary.

 

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