KDB to withhold Lehman details from liquidators

KOREA Development Bank (KDB) has told the liquidators of Lehman Brothers that it will not disclose all information surrounding a potential rescue by the South Korean business, mooted prior to the US investment bank&rsquo;s collapse.<br /><br />KDB was in negotiations with Lehman over a $6bn (&pound;3.7bn) investment in the bank last year, but backed away from the deal just days before the US bank filed for Chapter 11 bankruptcy on 15 September.<br /><br />US liquidators, led by Alvarez &amp; Marsal, subpoenaed KDB and its financial adviser Perella Weinberg to obtain data on the discussions, but KDB has said that it is only prepared to hand over limited information.<br /><br />KDB was one of a host of banks including Barclays, Bank of America and HSBC to be sounded out by US authorities about a possible rescue of Lehman, whose collapse sent shockwaves around the financial system.