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Lehman Brothers Europe Collapse Left £7.93 Billion Surplus

The sight of Lehman Brothers’ employees leaving the office with cardboard boxes in their arms arguably marked the beginning of the 2008 financial crisis. However, as a Court of Appeal ruling made plain, the bank’s European branch did not go bust and, thanks to the tireless work of insolvency professionals, a multi-billion-pound surplus became available for distribution to both secured and unsecured creditors.

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