Lehman Brothers administrators from PwC are expected to appeal against a
court ruling that scuppered plans to return around $2bn (£1.3bn) of cash to
Last month the Court of Appeal ruled that the $2bn pot must also be shared
with hedge funds and other unsecured creditors, drastically reducing the
potential payouts to fund managers and Lehman account holders.
PwC has until 23 September to file an appeal, and while no official
announcement has been made, the
reports that the firm will challenge the ruling.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies