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NOT A SUBSCRIBER?Lehman U.K. administrators propose $11B rebatePosted on November 24, 2009 1:30 PM
Almost three weeks after the U.K. Court of Appeal killed a legally binding plan for the return of assets held in trust by Lehman Brothers Holdings Inc.'s European arm, the bankruptcy administrators have issued a formal alternative to its clients. The proposal, known as a claim resolution agreement, was sent to clients of Lehman Brothers International (Europe) Ltd. on Tuesday. It allows them to get trust assets returned and positions closed out, without the need to either post further collateral or indemnify the bankrupt Lehman unit. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline.
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