PwC lodges Lehman Scheme of Arrangement appeal
Administrators approach the High Court for a second time to push through proposal which would allow quicker return of assets to creditors
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