Lehman Brothers International (Europe) where more than $35 billion of Hedge fund assets have been frozen since the bank’s collaspe last september could return about $11 billion to fund managers by March if enough firms approve a new plan.Price waterhouse Coopers PWC.UL administrators for bankrupt Lehman’s London based Unit announced on Monday a proposal that would let hedge funds recover their assests held in custody by Lehman Brothers International (Europe).
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The Scheme requires 90% f Lehman’s Clients.This agreement has been negotiated over the Past six months and will now allow us to return a further $11 billion or so of trust assets to their rightful owners.
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