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Firms set for Lehman Bros claims

Published on 1 Sep 2009 under category: legal

As the winding up of Lehman Brothers continues, it has been revealed that businesses are set to put in claims of up to $100 billion (£61 billion).

London units are among those taking this action, bankruptcy solicitors may be interested to hear.

The US bank filed for Chapter 11 bankruptcy protection in September of last year.

Now, Pricewaterhousecoopers, which is its administrator in Europoe, has revealed that it is preparing a claim against the former financial firm, which is set to be delivered before the September 22nd deadline.

The administrator commented that the claims are linked to guarantees to subsidiaries which were made before the bank entered into bankruptcy.

Elsewhere, a recent survey carried out by Which? Computing claimed that the online services of some banks could be open to fraud crimes.

The publication stated that Halifax and the Abbey had the weakest security systems, while those used by Barclays and Lloyds TSB were the strongest.

If you require advice on Insolvency and Bankruptcy please call us on +44 (0)20 7831 0101 and ask for Katherine Sillett.