PwC lodges Lehman Scheme of Arrangement appeal

Administrators of Lehman Brother's European arm have lodged an appeal at the High Court against a ruling which shot down an ambitious plan to fast-track the return of creditor assets.

Joint administrators Steve Pearson and Tony Lomas confirmed that the appeal had been lodged at the High Court at the end of last week.

The Scheme would have seen creditors with similar claims put into groups, but the High Court rejected it on the basis it lacked the "jurisdiction" to modify the rights of those with property assets.

Further reading:

PwC to appeal after court blow to Lehmans scheme

PwC push for Lehman's Scheme of Arrangement