Lehman creditors at risk from value drop

Phillips, Mike
December 2008
EuroProperty;12/15/2008, p17
Trade Publication
The article reports on the claims that the administrator of the $15 billion European property empire of Lehman Brothers Holdings Inc. could be unable to claw back any equity for creditors in Great Britain. PricewaterhouseCoopers LLP (PwC) stated that the value realisable from Lehman's European property assets would be less than the book value due to the large amount of secured debt used in its purchase. PwC noted that it had recieved 300 expressions of interest in the property assets.


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