Lehman Bros. Unit Appeals For Equal Shot At £900M Surplus

By Christopher Crosby (October 4, 2021, 4:42 PM BST) -- Creditors fighting for £900 million ($1.2 billion) left in Lehman Brothers' estate should be treated equally without separate affiliates taking priority over each other, administrators for the British unit of the failed investment bank told an English appeals court Monday.  

The English Court of Appeal has heard that Lehman Brothers' creditors' claims should be treated equally when divvying up the remaining assets of the investment bank's European operations. (Photo by John Stillwell/PA Images via Getty Images) Mark Phillips QC of South Square, counsel for a U.K. subsidiary of Lehman Brothers' ultimate U.S. parent company, told the Court of Appeal at a...

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