Winding down Lehman

steve-pearson

More than a year after the collapse of Lehman Brothers on September 15, 2008, administrators for the group’s London-based broker-dealer subsidiary, Lehman Brothers International (Europe) (LBIE), are confident they are on the cusp of real progress.

On November 23, PricewaterhouseCoopers (PwC) rolled out a consensual scheme of arrangement, the Claim Resolution Agreement (CRA), which will help speed up the return of client assets held in trust. Assuming a sufficient number of secured creditors sign