China

Details

  • Type: Press release
  • Date: 9/17/2008

For media enquiries, please contact:

Nina Mehra

Senior Manager, Media Relations

KPMG China

 +852 2140 2824 (Direct)

   +852 9724 6092 (Mobile)

 nina.mehra@kpmg.com

 

Provisional Liquidators appointed over Lehman Brothers' Hong Kong incorporated entities 

17 September 2008

 

KPMG's Paul Brough, Edward Middleton and Patrick Cowley were today appointed as Provisional Liquidators of two Hong Kong based Lehman Brothers companies, Lehman Brothers Securities Asia Limited and Lehman Brothers Futures Asia Limited by Order of the High Court of the Hong Kong Special Administrative Region on winding-up petitions presented by the two companies.

The Provisional Liquidators are aware that on 16 September 2008, the Securities and Futures Commission issued Restriction Notices in respect of each entity and are working with the management of the two Lehman Brothers' entities to assess their financial and operating conditions.

The Provisional Liquidators' immediate focus is therefore on working with the local management of the two Lehman Brothers' entities to understand their current situations, in order that the value in these business units can be preserved, and appropriate strategies identified to deal with them.

Further announcements will be made at appropriate times.

 

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