Sunday, 22nd November 2009

 

5 October 2009 - Press Briefing

UK administrator seeks backing of Lehman’s hedge-fund creditors

Lehman Brothers' hedge-fund creditors in London, with up to $16bn (€10.9bn) locked up in the investment bank’s bankruptcy, will on Monday be urged to participate in an unconventional attempt to break a yearlong hold-up, according to a report in The Wall Street Journal.

PricewaterhouseCoopers, the administrator for Lehman's London businesses, intends to seek approval to remove the claims from UK courts and reimburse assets directly to creditors, if enough hedge funds agree to the move.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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