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In the administration of Lehman Brothers International (Europe), the Supreme Court has confirmed that: client money is held on the statutory trust imposed by the FSA's Client Assets Sourcebook 7.7 from the time of receipt by a firm; the money treated as pooled at the primary pooling event (PPE) should be distributed to clients who have a contractual entitlement to have money segregated for them; and the pooling at the PPE includes all client money identifiable in any account of the firm into which client money has been received and is not limited to client money in the firm's segregated accounts
