Friday, 6 March 2015
Last updated 2 min ago
Jun 7 2013 | 1:30pm ET
Lehman Brothers' hedge fund clients are set to get all of their money back from the defunct bank—and soon.
Lehman trustee James Giddens said yesterday that he had begun cutting checks that will make institutional clients, including banks and hedge funds, whole. The money will come from the final liquidation of Lehman's brokerage business.
"Distributions from the LBI estate will stand as the largest return of property in history to former customers of a broker-dealer following a bankruptcy and liquidation proceeding," Giddens said.
Lehman's prime brokerage customers have had their money tied up since the bank collapsed nearly five years ago.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…