Bank of England
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:
The meaning of the word "deposit" is considered in paragraphs 53
Based on the legal advice we have obtained in respect of this
judgment, we do not intend to lodge an appeal.
Agreement of creditors'
Any creditors who have not yet submitted a claim, either
directly or through the Depositors Compensation Scheme, are asked
to submit their claims as soon as possible to ensure that they
receive the distributions to which they are entitled.
As previously, the best way to make contact is to write to the
bank or email email@example.com. If you need to
telephone the bank, please use the main switchboard number +44 1624