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Scot Young’s trustees in bankruptcy write to Moor J concerning financial remedy findings

Trustees say that judgment will damage returns to unsecured creditors

The Independent reports that Grant Thornton, who act as Scot Young's trustees in bankruptcy, have written, through their lawyers, to Mr Justice Moor who was the judge in the final hearing of Michelle Young's financial remedy application against Mr Young.

The Independent states that during a costs application in the bankruptcy proceedings, it was stated that lawyers for Grant Thornton, wrote to the judge to complain about findings made by him that certain creditors were fictitious. The letter is said to state: "With the greatest of respect this is a conclusion that it was not open to you to reach."

It was claimed that the effect of the financial remedy judgment was that "Mrs Young's share of recoveries will be enhanced at the expense of her former husband's other unsecured creditors."

According to The Independent, Mr Justice Moor has sent a robust response.

To read the report in The Independent please click here. The financial remedy judgment is here. An analysis of the judgment by Thomas Dudley of 1 Garden Court Chambers is here.

27/5/14