Lehman Brothers (PTG) Ltd (in administration), Re

Lehman Brothers (PTG) Ltd (in administration), Re

The administration of Lehman Brothers (PTG) Ltd is extended to 30 November 2025 because the complexity and ongoing potential for substantial recoveries justify continuation, administration in distribution mode remains preferable to liquidation, and no creditor objection was received.

Parties
Applicant: Gillian Eleanor Bruce; Applicant: David James Kelly; Applicant: Edward John Macnamara
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Insolvency/administration Application / Application for Extension of Administration Period
Outcome
Application granted
Legal Topics
Extension of Administration, Distribution Mode, Liquidation Vs Administration, Judicial Discretion in Insolvency
Insolvency Law Company Law Extension of Administration Distribution Mode Liquidation Vs Administration Judicial Discretion in Insolvency

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Parties

Gillian Eleanor Bruce

Applicant

David James Kelly

Applicant

Edward John Macnamara

Applicant

Procedural Posture

Insolvency/administration Application / Application for Extension of Administration Period

Legal Issues

  1. 1 Whether to grant a further two-year extension of the administration of Lehman Brothers (PTG) Ltd
  2. 2 Whether administration remains preferable to liquidation or dissolution
  3. 3 Whether the anticipated recoveries justify the continued cost of administration

Ratio Decidendi

The administration of Lehman Brothers (PTG) Ltd is extended to 30 November 2025 because the complexity and ongoing potential for substantial recoveries justify continuation, administration in distribution mode remains preferable to liquidation, and no creditor objection was received.

Court Disposition

Application granted

Orders

  • The administration of Lehman Brothers (PTG) Ltd is extended to 30 November 2025.