Lehman bankruptcy pits U.S. trustees against U.K. administrators

05/26/2009 | Wall Street Journal, The

U.S. administrators for the estate of Lehman Brothers want to coordinate bankruptcy proceedings worldwide, but administrators in the U.K. want to handle their portion of the bankruptcy according to local rules and their creditors' interests. The disagreement threatens to delay Lehman's bankruptcy further because the U.K. estate holds essential information for other insolvency proceedings.

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