Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
Find up-to-date guidance on points of law and then easily pull up sources to support your advice with Lexis PSL
Check out our straightforward definitions of common legal terms.
Speed up all aspects of your legal work with tools that help you to work faster and smarter.
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Access our unrivalled global news content, business information and analytics solutions
Insurance, risk and compliance intelligence using big data, proprietary linking and advanced analytics.
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Our latest thinking on key legal industry developments
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
The tenth progress report reveals that Lehman Brothers International (Europe) might have a surplus, meaning unsecured creditors may get interest and shareholders may also benefit.
The joint administrators of Lehman Brothers International (Europe) (LBIE) have drafted a progress report tracking the period from 15 March 2013 to 14 September 2013. This information has been sent to all known creditors and counterparties.
What are the main updates?
On 11 October 2013, the joint administrators of LBIE delivered their tenth report on the progress of the administration. Key points to note are:
• the joint administrators will host a one-hour webinar on 5 November 2013, giving creditors an opportunity to hear a summary of the current circumstances of the administration and participate in a Q&A session—details of the webinar will be posted on the PWC/Lehmans website shortly
• there is an increasing likelihood that there will be a significant surplus, after payment of all unsecured and trust claims (the surplus would be available to fund the payment of post-administration interest and/or the claims of shareholders)—the joint administrators are considering ways to resolve the resulting significant complexities, which will be assisted by the Waterfall Application (an application seeking determination on statutory interest priority, contribution rights and other issues relating to LBIE and its shareholders) due to be heard on 11 November 2013
• a third interim distribution will be made to unsecured creditors on or around 29 November 2013 (the cut-off date for proving is 31 October 2013)
• a second unsecured creditor dividend of 43.3% was paid on 28 June 2013—catch up dividends continued for late admitted creditors at the planned monthly payment dates
Free trials are only available to individuals based in the UK
* denotes a required field
0330 161 1234