In a judgment handed down on 30 June 2026, Charles Hollander KC, sitting as a Judge of the Commercial Court, discharged a freezing order and granted summary judgment in favour of an investor in collapsed lender, MFS. Jonathan Cohen KC appeared for the investor, D10. This was a rare contest between victims, where the Claimant sought to establish that monies which had been provided by Wells Fargo Bank and had been paid out to 15 investors were impressed with a purpose trust in its favour. D10 successfully established that she was a bona fide purchaser for value by accepting the payment out in discharge of her original investment, so that the purpose trust was defeated. Edward Brown KC of Essex Court Chambers appeared for the Claimant and Siward Atkins KC of Maitland Chambers and Madeleine Heal of Enterprise Chambers appeared for other Defendants.
