PwC may distribute UK Lehman trust assets regardless of court approval

pwc-london

PricewaterhouseCoopers (PwC), one of the joint administrators for Lehman Brothers International (Europe) (LBIE), has indicated it may press ahead with an adapted version of an arrangement that would not need court approval in order to distribute trust assets to LBIE creditors.

The scheme in question had looked to expedite the return of trust assets belonging to creditors of LBIE - the UK-based broker-dealer subsidiary of Lehman Brothers - but failed to secure approval from the English High Court

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