'Inevitable delay' in minibonds buy-back
06-12-2008
The Secretary for Financial Services and the Treasury, K.C. Chan, says it's inevitable that the buy-back plan for Lehman Brothers minibonds will be delayed. This came after the liquidator of the collapsed investment bank filed a legal challenge against the plan in the US. The government had said the buy-back would help minibond holders bypass the tedious liquidation process and retrieve their investments more quickly. Mr Chan said banks were now finding ways to resolve the problem.
