- High Court clarifies special administrator asset reconciliation timing (Re Strand Capital Limited and in the matter of the Investment Bank Special Administration Regulations 2011  EWHC 3561 (Ch))
- What was the background?
- What did the High Court decide?
- What were the particular difficulties facing the special administrators of Strand?
- What are the practical implications of this case?
- Case details
Restructuring and Insolvency analysis: Jen McCormick of Pinsent Masons LLP looks at this recent High Court case, which says that the requirement for special administrators to carry out a client money reconciliation 'immediately' after being appointed means that they must begin the process immediately, not that they must complete it straight away. The judgment clarifies Regulation 10H of the Investment Bank Special Administration Regulations 2011 and should remind prospective special administrators of the urgency and importance of the client asset reconciliation exercise.
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