ADMINISTRATORS: THE PWC TEAM HANDLING THE WIND-UP OF LEHMAN BROTHERS
THE administration process in the UK is being conducted by PricewaterhouseCoopers, whose team is led by the quartet of Tony Lomas, Steven Pearson, Dan Schwarzmann and Mike Jervis.
A mammoth taskforce of 250 PwC staff work under the four lead administrators, alongside a further 500 Lehman staff, who are assisting with the process.
The PwC team successfuly sold Lehman’s European equities business to Japanese broking giant Nomura last year, saving more than 2,400 jobs.
The American administrators are led by KPMG and Alvarez & Marsal, among others.
PwC has clashed with its American counterparts once before, when it filed a court order in New York demanding the return of $8bn (£5bn) from the US to London to pay creditors, salaries, property bills and other day-to-day expenses.