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25 May 2011
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.
Further reading
"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.
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Briefings
If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.
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AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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