The court has held that clients of a broker whose money should have been in a segregated client account, but by mistake was not, could not have client money protection on the broker’s liquidation. Sometimes, the broker had not thought the money was client money and so had used it in its own account. In another case, the broker had instructed its bank to transfer money to the client money account on the day it went into liquidation but the bank had not done so. The court said money that should have been treated as client money but was not could not have client money protection as it had not been kept in an identifiable form. Similarly, the court could not order the transfer of the money the bank had not paid. (Source: In the Matter of Global Trader Europe Ltd (in liquidation) sub nom Joanne Milner & Stephen Cork (Liquidators of Global Trader Europe Ltd) v. (1) Andre Crawford- Brunt (2) Rossib (Cyprus) Ltd (3) Sergey Soukholinsky (4) City Facilities Management Ltd [2009] EWHC 602 (Ch))