posted by
AnnaMata
2 hours 37 minutes ago
in USD
made popular 33 minutes ago
The dollar is rallying in tandem with stocks and commodities for the first time since before Lehman Brothers Holdings Inc.’s bankruptcy last year sparked the financial crisis, signaling the worst may be over for the greenback.
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On 17 December 2009 the SFC announced that its investigations into the distributors of Lehman Brothers minibonds had been completed with an agreement being reached with Grand Cathay. Part of the agreement included Grand Cathay making repurchase offers to all its 37 clients totaling US$3.93 million and those offers being accepted. In addition to the offer, Grand Cathay also has to implement certain measures such as; an enhanced complaints handling system and allocation of commissions from the... Read Full Story
NEW YORK (Reuters) - A U.S. bankruptcy judge said Lehman Brothers Holdings Inc <LEHMQ.PK> could inject another $100 million into its Aurora Bank unit so that it does not fall below the required regulatory capital level. At a court hearing in Manhattan on Wednesday, Judge James Peck said he would approve the additional funding for the bank, which has already received about $250 million of capital contributions from Lehman since March. Aurora Bank FSB, formerly known as Lehman Brothers Bank... Read Full Story
Earlier today, Lehman Brothers Holdings Inc. and its affiliates filed their most recent monthly report of de minimis assets sold or abandoned pursuant to court-approved procedures. Pursuant to those procedures, Lehman Brothers has the ability to sell or abandon lots of assets of de minimis size without individual court approval if selected interested parties do not object once given notice of the proposed sale/abandonment by Lehman Brothers. During the latest monthly period, there were no de... Read Full Story
NEW YORK (Reuters) - The trustee in charge of liquidating Lehman Brothers Holdings Inc's <LEHMQ.PK> brokerage business won court approval on Thursday to transfer about $1.6 billion to $1.7 billion of customer property to new accounts at Barclays Plc <BARC.L>. Judge James Peck, approved the bulk transfer at a court hearing, despite objections from some Lehman customers who said the transfer would hurt them if there is a shortfall later and all customer property cannot be recovered. Barclays... Read Full Story
posted by
sassygirl
8 hours ago
in EUR
made popular 6 hours ago
European confidence in the economic outlook improved in November to the highest since the collapse of Lehman Brothers Holdings Inc., suggesting the recovery in the 16-nation euro region is gathering strength.
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On 20 November 2009 the Hong Kong Monetary Authority (HKMA) reported that it had suspended Ms Leung Wai Yu’s registration for three months from 20 November 2009 to 19 February 2010.
HKMA’s investigation found that in March 2006, Ms Leung, who at the time was an employee of DBS Bank (Hong Kong) Limited, in the course of selling a client Constellation Credit Linked Note, had:
failed to diligently disclose and explain to the client the product’s risk; and
failed to complete the risk... Read Full Story
NEW YORK (Reuters) - Lehman Brothers International (Europe), where more than $35 billion of hedge fund assets have been frozen since the bank's collapse last September, could return about $11 billion to fund managers by March if enough firms approve a new plan. PricewaterhouseCoopers <PWC.UL>, administrators for bankrupt Lehman's London-based unit, announced on Monday a proposal that would let hedge funds recover their assets held in custody by Lehman Brothers International (Europe), or LBIE... Read Full Story
Image by Getty Images via Daylife Lehman Brothers Holdings Inc. and its affiliates filed their consolidated Monthly Operating Report (MOR) for the month of September on Wednesday. The MOR includes both a schedule of cash receipts and disbursements and a schedule of professional fee and expense disbursements. It is not prepared in accordance with U.S. generally accepted accounting principles (GAAP) or audited by the company's external auditors. The MOR reports that Lehman's cash and... Read Full Story
posted by
camac
4 hours ago
in USD
made popular 4 hours ago
The dollar traded within a half-cent of the weakest level against the euro since before Lehman Brothers Holdings Inc.’s bankruptcy on bets the Federal Reserve will trail other central banks in increasing borrowing costs.
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