A LEGAL CLAIM has been filed against Lehman Brother creditors to force them into revealing the amount they are owed by the collapsed bank.
The so called Ad-Hoc group includes hedge and pension funds such as Paulson & Co, Pimco and Calpers. The group argue that banks and other hedge funds might have interests not known to the court and could be using “a multitude of attorneys” to hide the fact they are co-ordinating efforts, the Financial Times reports.
“The prospect of conflicting motives arising during plan negotiations and later plan-related litigation is considerable. To promote fundamental fairness and transparency in these cases…any party seeking to participate in plan litigation [should] be required to provide comprehensive disclosure regarding their economic interests,” wrote Gerard Uzzi of firm White & Case, representing Ad Hoc in the court filing.
The select committee heard that GT had not met up with the BHS pension scheme advisers or trustees, but had done so with Deloitte, Arcadia’s pension advisers
The England and Wales Cricket board has hit HMRC for six in its VAT battle with the government department
Mather boasts a quarter century of restructuring and insolvency experience gleaned across various roles at Deloitte and Begbies Traynor
Clothing firm behind Pretty Polly tights blames BHS for its collapse