Lehman battle in Supreme Court

A long-running investor battle over the client money handled by Lehman Brothers’ European arm before the group collapsed is set to be resolved at a Supreme Court hearing opening today.

Hedge fund GLG is appealing an earlier ruling which increased the number of investors who may be able to gain access to cash held, but not properly ring-fenced, by the British arm of Lehman Brothers International (Europe). The case, which is one of hundreds relating to the demise of Lehman, is expected to last about four days.