In Flight Advice from Edwin Coe

In Flight Advice from Edwin Coe

Our view is that those who have a claim for in-flight money (awaiting Habana case) should not assign their rights to the DCS. Although ultimately they may get those rights back by reassignment, you can see that there may be some difficulty in the short term.

More importantly, in relation to the liquidation, we think that those proving in the liquidation should do it without prejudice to any claim that they may have against the Bank or others in relation to that in-flight money. We suggest some wording along the following lines:-

"This proof is submitted without prejudice to my rights against the Bank and others in relation to £_____ being sums ordered to be transferred and now held in trust by the Bank or others on my behalf."

Rather wordy but we think that this should be put on the proof of debt form. We have some difference of opinion here about the effect of the proof of debt form in the longer term but probably best to include these words somewhere on it at the moment.

DST Comment: If you have already applied/ sent Proof of Debt; suggest you email the caveat to the liquidator or consider withdrawing from the DCS if it might be to your advantage.

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