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Deutsche Bank and other Lehman Brothers creditors could be set for a £390 million ($495 million) payout from notes once regarded as worthless, after a UK court hearing.
(Bloomberg) -- Deutsche Bank AG and other creditors holding obscure notes issued by Lehman Brothers before its collapse have been handed a big win by a London court, with a first payout set for next month after years of wrangling.Most Read from BloombergSaudi Arabia Offers Iran Investment to...
finance.yahoo.com
Cominciamo a comprendere meglio ciò che sta avvenendo a seguito della sentenza UK
Chapter 11 Monthly Operating Report for the Month Ending: 10/31/2023 Filed by Garrett A. Fail on behalf of Lehman Brothers Holdings Inc.. (Fail, Garrett) Debtor 08-13555 Lehman Brothers Holdings Inc.
LBHI is currently set to recover a far smaller payout on its subordinated debts, but could seek to challenge the decision at the UK Court of Appeal. Whether there will be enough money to pay out on the entire claim will depend on how much more administrators at PwC are able to recover from the UK insolvency. In the judgment, Hildyard referred to estimates by administrators of between £233 million and £490 million for surplus left to be distributed to creditors. Lehman’s European arm lost a case over a longstanding litigation relating to crisis-era credit default swaps last year, but a report from administrators at PwC in April said that it was likely that decision would be appealed. Success in that case could increase payouts for creditors like Deutsche Bank and LBHI.
Lehman Brothers Treasury Co. B.V. (“LBT”) was declared bankrupt (in staat van faillissement verklaard) by the Amsterdam District Court on 8 October 2008 with the appointment of Rutger Schimmelpenninck and on 13 October 2009 Frédéric Verhoeven as bankruptcy trustees (curatoren) (the “Bankruptcy...
www.lehmanbrotherstreasury.com
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