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: lehman-brothers
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…
First anniversary of Lehman Brothers collapse
By Angela Dorizas This week marks the first anniversary of the collapse of US investment bank Lehman Brothers, which sent shockwaves around the world and brought the global financial system…
FEATURE: Dear Prudence
Since the 2008 Cole Inquiry into faulty council investments a new financial conservatism has taken over local government. But the pressure is already on to find more high-returning investment opportunities,…
Councils lose in Lehman Bros pay out plan
By Angela Dorizas Councils that invested with failed bank Lehman Brothers Australia will recoup between 2c and 13c in the dollar after creditors decided against winding up the company. Creditors have…
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…
Federal Court hears Lehamn Bros appeal
By Staff Writer Failed investment bank Lehman Brothers Australia will appeal against the Federal Court’s decision to allow a former council client to access the company’s insurance policies. The matter will be heard…
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,…
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