Lehman fallout still causing concern
How did firms deal with assets held at Lehman?
When Lehman Brothers collapsed in September 2008, many hedge funds were caught in a bankruptcy that has shaken the foundations of the prime services industry. Funds that thought assets were safely ring-fenced from the bank found they were unable to retrieve much needed assets. The ensuing legal procedure to get these assets back has severely hampered many funds, with around $50 billion or more stuck in the bankruptcy. The aftermath has led to the adoption of multi prime brokers, a more careful
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