Lehman administrators to push consensual scheme as appeal is rejected

pwc-london

PricewaterhouseCoopers (PwC), the administrators for Lehman Brothers International (Europe) (LBIE), is set to go ahead with a consensual scheme of arrangement to expedite the return of assets to secured creditors.

"Following the original judgment, we recognised the proposed scheme was at risk, and in the meantime have worked with the creditors committee of LBIE to develop a credible alternative approach in order to return assets to clients using approximately the same framework of rules and time