Application Of Post Insolvency Funds?
| Published date | 11 August 2021 |
| Subject Matter | Corporate/Commercial Law, Insolvency/Bankruptcy/Re-structuring, Corporate and Company Law, Insolvency/Bankruptcy |
| Law Firm | Mills & Reeve |
| Author | Mr Jamie Wheatley |
BetIndex maintained a separate client account for its gambling customers. On administration around '4.5m was in the account. The administrators applied for directions as to the way in which amounts due to each customer are calculated.
BetIndex's business model meant that contracts between customers and BetIndex remain in place so that customers continued to be entitled to ongoing winnings for up to 3 years after BetIndex stopping trading. Following administration, customers' winnings continued to accrue at...
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