Lehman Brothers' European businesses plan to file claims for as much as $100bn (￡61.5bn) against their former holding company in the coming weeks, as the winding up of the collapsed US bank gathers pace.
The filing of the demands, which are being prepared by Pricewaterhouse Coopers (PwC), represents the opening of another front in the battle to recoup billions of dollars from Lehman Brothers, following its bankruptcy almost a year ago.
Tony Lomas, a partner with PwC – which is acting as administrator of the defunct investment bank's main European operations – described the range of claims as “exceptionally complex”. Many relate to past guarantees that the former parent company issued to its global subsidiaries, Mr Lomas said.
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