Lehman Administrator Meets With U.S. Hedge Funds

Oct 30 2008 | 11:57am ET

The main U.S. hedge fund lobbying group is deepening its involvement with the Lehman Brothers bankruptcy, seeking to break a logjam that is keeping billions of dollars of hedge fund assets frozen.

The Managed Funds Association, which earlier this month called on British regulators to speed the liquidation process, has sat down with the head of the London PricewaterhouseCoopers team that is overseeing the Lehman bankruptcy. The meeting in New York with Tony Lomas, at which he sought to clear the “considerable confusion and frustration for some regarding the U.K.’s administration process,” attracted some 200 members of the MFA.

Lehman Brothers International Europe’s bankruptcy has left as much as US$70 billion in prime brokerage assets frozen, and PwC has indicated it could take months, if not years, to determine who is entitled to what.

Lomas promised the MFA members that his firm was proceeding “as expeditiously as possible under our legal authority.”


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...

 

FINalternatives Trending

From the current issue of