Update from KSFIOM Liquidators 3 June 2010

Category: Newsflash

Bank of England case

The Court of Appeal has handed down its judgment in respect of the above case. The judgment has gone against us -

the Court has overturned the original judgment regarding the interpretation of the words "deposit" and "customer", so that KSFIOM and other group companies and financial institutions will not be able to share in the Trust Account proceeds. This is obviously disappointing but is not unexpected. A copy of the judgment is attached: ...


Based on the legal advice we have obtained in respect of this judgment, we do not intend to lodge an appeal.

Link and copy of judgment here

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