PwC Offers New Asset Return Plan For Lehman UK

Law360, New York (October 5, 2009, 4:09 PM EDT) -- Lehman Brothers Holdings Inc.’s European assets administrator PricewaterhouseCoopers said Monday it had developed an alternate plan for repaying creditors directly while it appeals a U.K. court order rejecting the asset distribution plan it submitted in July.

PwC said even though an expedited hearing in the appeal had been set for Oct. 26, it was anxious that the appeal process not be allowed to delay the return of client assets.

“Although the scheme [submitted to the court] is the most fully encompassing and preferred solution for the...
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