A year ago on September 15th Lehman Brothers International (Europe)-lbie, the London subsidiary of Lehman Brothers Holdings, New York-closed for business, leaving 839,000 failed transactions totalling billions of dollars hanging in the air. PricewaterhouseCoopers (pwc), the administrator, is still trying to sort out most of them, which relate to over 100 separate units of lbie. It has managed to pay claims of around $13 billion (£8 billion) but wants the American parent to settle up to $100 billion more. That may result in litigation, says Tony Lomas, a partner at pwc.
展开▼
