UK court throws out Lehman appeal

PricewaterhouseCoopers (PwC), the administrators of the International Europe arm of Lehman Brothers, had tried to expedite the asset return process through a ‘scheme of arrangement'. The case reached the appeal courts after a London judge ruled in August it was beyond British courts' jurisdiction to force creditors to participate in the trust asset-distribution plan. But today judges confirmed the lower-court judge "was right to hold he had no jurisdiction to approve the scheme insofar as it was concerned with the distribution of property held or controlled by it on trust for any of ...