Lenders from the Western equip associated with Oughout. H. investment decision financial institution Lehman Siblings, that flattened within Sept 08, might be paid back completely, managers stated upon Mon. The settlement of rival claims over assets has freed up billion of dollars that can now be distributed to former clients of the bank's European arm, PricewaterhouseCoopers (PwC) said in its ninth progress report to creditors. "To be able to advise ordinary unsecured creditors that we now have a reasonable chance of eventually repaying their claims in full, marks a significant milestone," said Tony Lomas, lead administrator and partner at PwC. "There is still a lot to do before finalizing the wind-down but we do expect to pay a second, significant dividend to creditors in the near future, taking us another step towards this new target." Some 13.6 billion pounds worth of assets, including securities and cash, have been returned to former clients of the European unit of Lehman Brothers since the start of the wind down. PwC said one recent settlement would free up $9.1 billion (5.9 billion pounds) of assets, which could be returned to creditors later this year. Within Nov this, an initial temporary gross associated with twenty five. two % had been compensated in order to unprotected lenders, generally among the final to become compensated in a blowing wind straight down. |
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