*Contrarian Funds Llc v Lomas and others

Company – Administration. In the course of the administration of Lehman Brothers International (Europe) (LBIE), the applicant, Contrarian, made an application to the administrators to be an unsecured creditor. The administrators made repeated request for more documentation, but Contrarian failed to provide the necessary information to support its claim. The administrators refused Contrarian any further time to prove that it was an unsecured creditor. Contrarian applied to the Companies Court for an extension of time. The court, in dismissing the application, held that the administrators had been generous to Contrarian in the extensions of time which they had agreed, and no further extension was appropriate.

Category: