Lehman European Unit To Settle Smaller Claims

Law360, New York (April 9, 2010, 7:15 PM EDT) -- The joint administrators of bankrupt Lehman Brothers International Europe on Friday proposed settling small claims against the company of up to a maximum of $10,000 each in an effort to reduce administrative costs.

Settling in full with certain eligible pre-administration clients would reduce the number of claimants seeking money from the company, with claimants currently numbering at around 1,500, according to PricewaterhouseCoopers LLP, whose partners administrate the European unit of Lehman.

The administrators propose paying out about $1 million in total over the next four months,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.