Wednesday, April 15, 2009

Just draw a line under it!

Lehman yields bonanza for the professionals

“This is without doubt the most complex and challenging insolvency the UK, and arguably the world, has ever seen. “In part how long it takes depends on how quickly ‘the Street' provides the data we need. But could it be longest ever? Yes, it could.

Posted by devo @ 12:16 AM (654 views)
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One thought on “Just draw a line under it!

  • When Lehman Brothers collapsed last year, $582 billion of assets owned by institutions that traded with the bank were frozen, pushing hundreds of hedge funds to the brink of financial collapse. PwC said yesterday that more than a hundred investment funds – predominantly hedge funds – had applied for “hardship status” to get their money released early.

    The majority of the requests were granted. To qualify for hardship
    consideration, funds must convince the administrator and the courts
    that they face bankruptcy

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