Minibond sellers pledge $100m fund
2008-12-18 HKT 06:03
Local distributors of Lehman Brothers minibonds have pledged $100 million towards finding a solution to a deadlocked buy-back plan. They're hoping to free up some of the remaining value of the financial products, so local investors can be compensated. Currently, the trustee of the Lehmans minibonds, HSBC, is locked in a legal battle with the liquidators of the bankrupt US investment bank, over who has the right to divide up the assets.
