A matter of trust

More than a year on from the collapse of Lehman Brothers, administrators are still trawling through the estate of Lehman Brothers International (Europe). A scheme of arrangement designed to speed up the return of trust assets to clients failed to win approval by UK courts in August. What does this mean for former customers of the firm? Christopher Whittall reports


Call up any law firm worth its salt in London or New York, and the chances are it will be involved in some way with the fallout from the collapse of Lehman Brothers. The largest corporate bankruptcy in history has thrown up its fair share of legal challenges over the past year, from disputes over collateral held by special-purpose vehicles arranged by Lehman Brothers (Risk September 2009, pages 38–41), to allegations of mis-selling aimed at the failed broker-dealer. All the while, administrators

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