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The hedge funds claim that client cash – amounting to billions of pounds – should have been put in a ring-fenced account by Lehman under FSA rules so that in the case of a liquidation the money is segregated and distributed immediately back to clients. Full Article at The Telegraph
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Nov. 6 (Bloomberg) -- Lehman Brothers International Inc.’s U.K. unit can’t go ahead with an expedited plan to distribute as much as $8.9 billion in assets to creditors, an appeals court ruled. Full Article at Bloomberg.com
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Morgan Stanley, Asia-Pacific’s (Apac’s) second-largest prime broker, picked up more than 30 new mandates to provide services including clearing trades, securities and cash lending to hedge funds in the region this year. Full Article at Business Standard
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Hundreds of hedge funds that were customers of Lehman Brothers and had their assets frozen when the bank collapsed can keep the cash generated by their portfolios in the 13 months since the investment bank was declared bankrupt. Full Article at Times Online
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Oct. 21 (Bloomberg) -- Lehman Brothers International Europe’s prime brokerage clients will get as much as $3.3 billion that U.K. bankruptcy administrators collected after the investment bank’s collapse. Full Article at Bloomberg.com
