Lehman Europe Creditors to be Fully Repaid - PwC

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Creditors of the European arm of Lehman Brothers, which collapsed in 2009, may be repaid in full.

PricewaterhouseCoopers (PwC) administrators, in its progress report to creditors, said that funds from the settlement of rival claims over assets can be used to pay the bank's former clients.

The administrators reported a new settlement that would free up $9.1 billion worth of assets which could be returned to creditors later this year,

Some 13.6 billion pounds worth of assets, including securities and cash, have already been returned to the creditors of the bank's European unit since the wind down.

According to lead administrator Tony Lomas, said the unsecured creditors have been advised that there is a reasonable chance that their claims will be repaid in full and that they can expect a significant second dividend in the near future

A first interim dividend of 25.2 percent was paid to unsecured creditors in November 2012.

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Lehman Brothers

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