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Article: United Kingdom : Deal proposed to Lehman Brothers Europe creditors.
- Article from:
- TendersInfo
- Article date:
- October 6, 2009
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The administrators of Lehman Brothers' assets in Europe said Monday that they may seek a direct agreement with hedge funds and other creditors to return money tied up since the collapse of the parent company as an alternative to a court-sanctioned settlement.
PricewaterhouseCoopers which controls some $8.9 billion in assets from Lehman Brothers International (Europe) since the parent company went bankrupt on Sept. 15, 2008 has proposed a contractual agreement with creditors following an adverse ruling by the High Court in London. The court ruled in July that it had no power to grant the administrators' request to set a "bar date" or deadline for creditors to file ...