Deal proposed to Lehman Brothers Europe creditors
Business Law
The administrators of Lehman Brothers' assets in Europe said Monday that they may seek a direct agreement with hedge funds and other creditors to return money tied up since the collapse of the parent company as an alternative to a court-sanctioned settlement.
PricewaterhouseCoopers — which controls some $8.9 billion in assets from Lehman Brothers International (Europe) since the parent company went bankrupt on Sept. 15, 2008 — has proposed a contractual agreement with creditors following an adverse ruling by the High Court in London. The court ruled in July that it had no power to grant the administrators' request to set a "bar date" or deadline for creditors to file claims.
PricewaterhouseCoopers is appealing the court ruling, with a hearing expected on Oct. 26, but meanwhile it has disclosed a timetable for the alternate settlement.
The administrators sought a bar date because they had not received responses from all clients of Lehman Brothers, they could not depend on the accuracy of Lehmans' record and had not received all the information requested from custodians, depositories and affiliates of Lehman Brothers International (Europe).
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Is Now the Time to Really Call a Special Education Lawyer?
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Forte Law Group is one of only a very few law firms within the state of Connecticut that is dedicated to exclusively representing families and children with special needs.
Parents need to be persistent, dedicated and above all else aware of the many services and accommodations that their child is entitled to under the law. As early as this point within your child’s special education, many parents will often find themselves in the situation asking, “is now the time to really call a special education lawyer?” Here are a few things to consider when asking yourself that question.