The administrators of Lehman Brothers' Europe business said today they could begin dividing up some £7.3bn from the failed bank early next year if creditors agree to a claims plan.
PricewaterhouseCoopers hope to get agreement on a "consensual approach" which will apply the same standards to all claims by unsecured creditors, according to the Associated Press. The sum represents about half of all unsecured claims, which PWC estimates are between $18bn and $22bn. If it fails to get agreement on this new approach, it could take years to start releasing funds from the beleaguered bank, PwC warns. Lehman Brothers collapsed in September 2008, becoming one of the most prominent casualties of the global credit crisis. In December, PwC announced it had won support ...
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