Extra £900M In Lehman Bros. Estate Won't Be Paid Equally

By Christopher Crosby (October 20, 2021, 4:22 PM BST) -- An appeals court has dashed the hopes of some creditors fighting for £900 million ($1.2 billion) left in the estate of Lehman Brothers, ruling on Wednesday that certain claims for compensation by separate affiliates took priority over other creditors.

The Court of Appeal in London has issued a 48-page ruling rejecting attempts to parcel out, on an equal basis, the remaining assets being overseen by administrators. The judges found that some debt claims by affiliates of the failed investment bank outranked those of others, including one being pursued by Deutsche Bank AG. 

Administrators overseeing part of the liquidation of the bank's European operations have...

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