Hedge Fund News From HedgeCo.Net

Lehman Brokerage to Pay Hedge Funds, Banks After 4 Years

Bloomberg – Defunct brokerage Lehman Brothers Inc. (LEHMQ) is set to pay more than $15 billion to hedge fund and bank customers after 4 1/2 years in liquidation.

Brokerage trustee James Giddens, who previously faced payment demands by New York hedge fund Elliott Management Corp., won a bankruptcy judge’s approval today to put the money into a fund to pay customers, according to a court order. The trustee has said the approval would “set the stage” for payments that will give customers all their money back.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply