Protest by Lehman products investors
29-11-2008
A group of investors who bought Lehman Brothers' products through Standard Chartered Bank have marched to the bank's biggest shareholder, Singapore's Temasek Holdings, after the bank refused to meet them. One of the investors, Philip Khan, says Standard Chartered has been insincere in handling their complaints. He also said the investors were disappointed to hear that banks might not be able to proceed with the buy-back plan for minibonds, due to U.S. legal restrictions. He said he welcomed legislator Regina Ip's proposal for the government to set aside $20 billion to buy back the products. But he doubted if the administration would accept it.
