Lehman Europe creditors eye 44% profit

摘要

Creditors of lehman brothers international europe, the bankrupt investment bank's London subsidiary, could now be paid as much as 44% on top of their original claims after a High Court judge ruled that they should receive statutory interest. LBIE's joint administrator Tony Lomas has already declared a fourth distribution of 7.8p to unsecured creditors, which will take total payouts to 100% of claims when the dividend is paid at the end of April. The statutory interest should boost that level to 144%. However, creditors are unlikely to see that paid soon, as LBIE bondholders are likely to appeal against the High Court judgement. Lomas said he was hopeful that a compromise could be reached with the latter group, which would obviate the need to go through a lengthy appeal process.