Lehman Europe Takes German Unit To Court For $1B

By Erin Fuchs

Law360, New York (February 16, 2010, 4:49 PM ET) -- The European unit of Lehman Brothers Holdings Inc. has sued its German affiliate in a Frankfurt court to recover $1 billion in client funds it claims it deposited with Lehman Brothers Bankhaus AG before it became insolvent.

PricewaterhouseCoopers LLP, the administrator for Lehman Brothers International Europe, said Tuesday that Bankhaus has now been served with the complaint, which seeks the return of $1 billion deposited with the German unit before its insolvency proceedings in Frankfurt.

Those funds consisted of about half of the pre-administration client money...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles