The administrators behind Lehman Brothers Holdings will propose a plan to
hand assets directly to creditors, in return for them ending UK court actions.
PricewaterhouseCoopers will put forward a proposal aimed at clearing the road
for creditors to receive assets directly instead of persuing their claims
through courts, The Wall Street Journal reports.
Steven Pearson, joint administrator of Lehman Brothers International (Europe)
and a partner at PricewaterhouseCoopers, is aiming for of 90% of creditors
support for the plan.
Creditors would have to agree in writing to be bound by the plan. If enough
sign on, a time frame could then be placed on the release of assets.
Read the full story:
creditors to get payout plan
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Investment in people, tech and businesses impacts on EY's profit per partner figure
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day