By Julian Bajkowski Councils in New South Wales and Western Australia burned by the collapse of merchant bank Lehman Brothers could recoup around 45 cents in the dollar after liquidators…
Tag: grange-securities
Lehman Brothers, Grange liable for council sub-prime losses
By Julian Bajkowski Local governments, charities and and not for profit groups have finally won a phyrric victory over collapsed US investment bank Lehman Brothers, after the Federal Court ruled…
Class action against Lehmans goes to trial
Grange Securities, the Australian arm of failed investment bank Lehman Brothers bought collateralised debt obligations (CDOs) for councils even though they advised the firm not to, the Federal Court has…
Councils given green light to pursue lost investments
By Angela Dorizas A ruling by the Federal Court has cleared the way for councils to pursue legal action against collapsed US investment bank Lehman Brothers. The Federal Court found…
Federal Court upholds Lehman Bros appeal
By Angela Dorizas The Federal Court has upheld an appeal by the administrators of Lehman Brothers Australia to block Wingecarribee Shire Council’s access to the company’s insurance documents. The council…
Council digs for Lehman’s insurance policies
Wingecarribee Shire Council is seeking to recoup losses made from CDO investments. Image: iStock By Angela Dorizas Wingecarribee Shire Council in New South Wales has won the right to proceed…
Call for councils to sue for lost investments
By Angela Dorizas Councils that have lost funds through high-risk investments in structured instruments, including collaterised debt obligations (CDOs), may have a litigation case against financial advisers and rating agencies,…