Lehman creditors encouraged to share the pain

Lehman Borthers Australia
liquidator Marcus Ayres.
Photo courtesy PPB Advisory

YOU know you’re handling a complex liquidation when the best option for satisfying creditors’ claims is one that delivers equality of unhappiness for all.

Lehman Brothers Australia (LBA) is such a liquidation. Since their appointment in 2009 PPB Advisory’s Marcus Ayres and Steve Parbery have dealt with complex financial instruments backed by tainted mortgage pools; multi-jurisdictional legal wrangles; hardball insurance syndicates and class actions mounted by plaintiffs scarred when the aforementioned derivatives exploded.

On Wednesday the liquidators faced LBA creditors assembled at the Bligh Street offices of Clayton Utz to discuss their latest report.