Frozen Assets

Below is a quick update on the Lehman Brothers frozen assets situation:

Despite a legal setback, the administrators of Lehman Brothers’ European arm still hopes to expedite the return of billions in frozen prime brokerage assets to the collapsed investment bank’s former clients.

Steven Pearson and Tony Lomas of PricewaterhouseCoopers told The Wall Street Journal that they plan to meet with Lehman’s clients, including hedge funds, today in an effort to find a way to speed the return of their money. If no deal can be reached, PwC has warned it could take years to unfreeze the assets at Lehman Brothers International Europe. source

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