“Commercial Awareness Is Global.”
By: Ainsley Brown PricewaterhouseCoopers (PwC), the administrator for the European outfit of Lehman Brothers, has come up with a ‘Plan B’ to give out $17 billion to creditors. This after the High Court in England rejected a plan by PwC in August that would have freed up over $13 billion worth of assets. The court rejected the earlier plan because
By: Ainsley Brown PricewaterhouseCoopers (PwC), the administrator of the now defunct bank’s European arm is set to file a claim against the parent bank in US bankruptcy court. PwC has until September 22 – the deadline set by the court – to file its claim. The claim surrounds some $100 billion in pledges made by the parent bank before it
By: Ainsley Brown The English High Court has scuttled a plan for quick payouts to creditors by the administrator’s of Lehman Brothers’ European arm. PricewaterhouseCoopers (PwC), the administrator is now carefully studying the judgment and weighing it options i.e. should it appeal or not. In either case Lehman Brothers’ creditors face delays in recovering their assets. The ruling affects some
By: Ainsley Brown Switzerland´s second largest bank, Credit Suisse, in a sign of generosity – oh sorry, let me re-phrase that – in a sign of commercial awareness and good customer relations, has decided to compensate clients who suffered losses as a result of the collapse of Lehman Brothers. It is the first investment bank to put forward such a