Lehman Brothers International administrators petition to recover $1 billion of client monies

By Caroline Salls

Pittsburgh, Feb. 16 - Lehman Brothers International (Europe)'s joint administrators said a claim for the return of $1 billion of client monies has been served on the administrator of Lehman Brothers Bankhaus AG, according to a news release.

As previously reported, the LBIE joint administrators filed a petition for the return of the client monies plus interest on Dec. 22 in the Frankfurt am Main Regional Court in light of the Bankhaus administrator's decision to reject the claim.

The first oral hearing is scheduled for July 6. The Bankhaus administrator has until four weeks from Feb. 8 to respond to the petition.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company filed for bankruptcy on Sept. 15, 2008 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 08-13555.

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