PwC Launches Asset Return Plan For Lehman UK

Law360, New York (November 24, 2009, 4:23 PM EST) -- Lehman Brothers Holdings Inc.’s European assets administrator PricewaterhouseCoopers LLP said Tuesday it had proposed a plan to hand creditors back $11.4 billion in assets that have been tied up in the failed investment bank’s estate since it slipped into bankruptcy.

PwC said it had sent a letter by e-mail to each person it had determined might have an ownership claim to Lehman’s trust assets.

Under PwC’s proposed “claim resolution agreement,” 600 of Lehman’s European clients would be set to receive the funds by March 2010....
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