Lehman claims roll on in Europe

DESPITE collapsing nearly five years ago to the day, Lehman Brothers’ creditors are moving closer to recovering their claims, according to PwC.

Lehman’s European arm has paid £652m to administrators who are tasked with attempting to resolve one of the most complex bankruptcies in history.

However, this is only 2-3 per cent of what the company expects to extend to creditors. Usually fees make up 4-9 per cent. In total, £40bn is expected to be returned.