Re AS LHV Pank (UK Branch) & Anor

Re AS LHV Pank (UK Branch) & Anor

The scheme satisfies all statutory requirements under FSMA 2000, has regulatory approval, no objections have been raised, and the ancillary orders sought are within the court's jurisdiction. It is appropriate to sanction the scheme in all the circumstances.

Parties
Claimant: AS LHV Pank (UK Branch); Claimant: LHV UK Ltd
Jurisdiction
England and Wales
Judgment Date
11 September 2024
Procedural Posture
Part 8 Claim (banking Business Transfer Scheme) / Sanction Hearing and Final Judgment
Outcome
Scheme sanctioned
Legal Topics
Business Transfer Schemes, FSMA 2000, Regulatory Approval, Ancillary Orders
Banking Law Financial Services Regulation Business Transfer Schemes FSMA 2000 Regulatory Approval Ancillary Orders

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 9 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

AS LHV Pank (UK Branch)

Claimant

LHV UK Ltd

Claimant

Procedural Posture

Part 8 Claim (banking Business Transfer Scheme) / Sanction Hearing and Final Judgment

Legal Issues

  1. 1 Whether the proposed banking business transfer scheme satisfies the statutory requirements under FSMA 2000
  2. 2 Whether the court should sanction the scheme under s.111(1) FSMA
  3. 3 Scope of the court's power to make ancillary orders under s.112 FSMA

Ratio Decidendi

The scheme satisfies all statutory requirements under FSMA 2000, has regulatory approval, no objections have been raised, and the ancillary orders sought are within the court's jurisdiction. It is appropriate to sanction the scheme in all the circumstances.

Court Disposition

Scheme sanctioned

Orders

  • Order sanctioning the banking business transfer scheme under s.111(1) FSMA
  • Ancillary orders under s.112 FSMA as sought by the claimants