Europe arm to claim $200 bln from Lehman – PricewaterhouseCoopers
LONDON (Reuters) – The administrator of Lehman Brothers in Europe expects to claim more than $200 billion from other parts of the failed investment bank, he told the Reuters Restructuring Summit on Monday.
Tony Lomas, chairman of business recovery services at PricewaterhouseCoopers, said more than $150 billion of claims will be made against Lehman Brothers’ U.S. parent and subsidiaries, in addition to more than $50 billion from other Lehman units across the world.
Claims from other Lehman units against Lehman in Europe so far totaled about $10 billion, Lomas said.
Lomas said the process of returning client funds would continue despite a recent court setback, and he expected a solution would be found by the first quarter of 2010.
He estimated total external claims to be in the “many tens of billions of dollars” but less than $100 billion.
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(Reporting by Tom Freke; Editing by Dan Lalor)