Reuters: Bankruptcy News: Lehman Europe plans creditor payout by end November

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Lehman Europe plans creditor payout by end November Oct 12th 2012, 09:39 LONDON | Fri Oct 12, 2012 5:39am EDT LONDON Oct 12 (Reuters) - The European arm of U.S. investment bank Lehman Brothers, which collapsed in September 2008, is planning to return cash to unsecured creditors for the first time by the end of November, administrators said on Friday. PricewaterhouseCoopers, which has been handling the UK part of the Lehman administration, is yet to announce the exact size of the payout. It has already returned 13.5 billion pounds ($21.65 billion)worth of securities and cash to Lehman Brothers Europe clients who had segregated accounts, PwC said in a progress report. The administrator is now nearing a payment to unsecured former clients of the bank, usually at the bottom of the hierarchy of creditors.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions