Law360, New York (November 06, 2009, 1:00 PM ET) -- A British appellate court has rejected PricewaterhouseCoopers' plan to speed up the unwinding of Lehman Brothers Holdings Inc.'s European branch and distribute the assets to creditors, upholding a decision by a lower court.
Justices Nicholas Patten and Andrew Longmore of the England and Wales Court of Appeal ruled Friday that the lower court had been right to find that PwC's so-called scheme of arrangement fell outside of its jurisdiction because it released Lehman from obligations to clients whose money it was holding for their benefit, rather...
UK Appeals Court Shuns PwC Plan For Lehman Assets
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