More Lehman clients to get refund

Britain’s highest court yesterday ruled that billions of dollars earmarked as belonging to clients when Lehman Brothers collapsed should be divided up among all its clients, including those whose cash the investment bank had mixed with its own. By law, firms must keep money they trade on clients’ behalf separately to their own, keeping it safe from creditors seeking to recuperate losses in the event of a bankruptcy. The ruling said that Lehman Brothers International failed to do this “on a truly spectacular scale”.