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Lehman Brothers: Insolvency

Volume 505: debated on Tuesday 2 February 2010

To ask the Chancellor of the Exchequer what steps he has taken to support the claim of UK-based creditors against the US parent company of Lehman Brothers. (313573)

[holding answer 26 January 2010]: The administration of the Lehman Brothers group, including its UK and US subsidiaries, is a matter for the courts and the court-appointed administrators in the relevant jurisdictions. It would be inappropriate for the Government to intervene in independent, court-governed proceedings such as these. Where UK-based creditors have a claim against any part of the Lehman Brothers group, it is appropriate for them to present this claim to the administrators of the relevant entity in the appropriate jurisdiction.