Following the Court of Appeal decision in their application to the Court for directions to enable them to identify client money and its traceable proceeds (as previously reported here), the administrators of Lehman Brothers International (Europe) sought further directions regarding the further work to be carried out, the evidence to be prepared and the identification of appropriate respondents and sought a protective costs order. They estimated that the further work might cost between £5 and 10 million.

In view of the pending appeal to the Supreme Court, the High Court held that until the Supreme Court gave its decision it was premature to make any such further directions and the application was adjourned.

This decision can be viewed here.