September 26, 2008: 11:22 AM EST
Edited Press Release
LONDON -(Dow Jones)- PricewaterhouseCoopers LLP said Friday that following on from the statement issued on Sep. 21, the joint administrators of Lehman Brothers International wish to inform clients of LBIE that they are considering, in consultation with their legal advisors and the FSA, structures which may enable them to offer counterparties a partial distribution of monies and assets designated as Client Assets.
The Administrators hope to be in a position to provide further updates on these proposals in due course.
Counterparties should understand that it is likely to take some weeks for these structures to be fully developed.
The Administrators appreciate and acknowledge the significant difficulties that are being faced by counterparties and can confirm that the identification and return of Client Assets remains a major priority, the group said.
(END) Dow Jones Newswires 09-26-08 1122ET Copyright (c) 2008 Dow Jones & Company, Inc.
|