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ADMINISTRATORS: THE PWC TEAM HANDLING THE WIND-UP OF LEHMAN BROTHERS

THE administration process in the UK is being conducted by PricewaterhouseCoopers, whose team is led by the quartet of Tony Lomas, Steven Pearson, Dan Schwarzmann and Mike Jervis.<br /><br />A mammoth taskforce of 250 PwC staff work under the four lead administrators, alongside a further 500 Lehman staff, who are assisting with the process.<br /><br />The PwC team successfuly sold Lehman&rsquo;s European equities business to Japanese broking giant Nomura last year, saving more than 2,400 jobs.<br /><br />The American administrators are led by KPMG and Alvarez &amp; Marsal, among others.<br /><br />PwC has clashed with its American counterparts once before, when it filed a court order in New York demanding the return of $8bn (&pound;5bn) from the US to London to pay creditors, salaries, property bills and other day-to-day expenses.