Hedge funds controlled by Goldman Sachs and GLG have won a vital UK court ruling over billions of dollars of clients’ cash held by Lehman Brothers when it collapsed. The High Court on Tuesday ruled money that was not properly ring-fenced by Lehman’s European arm could not be claimed out of a $1bn pool controlled by the bank’s administrators. While a victory for Goldman and GLG, whose money was properly separated, the decision means that several Lehman affiliates and other hedge fund clients will not be able to pursue about $3bn worth of claims against the pool.

This entry was posted by Gwen Robinson on Wednesday, December 16th, 2009 at 5:15 and is featured in The 6am Cut London (16 Dec 2009) . Tagged with glg, goldman sachs, Lehman Brothers. Edit this entry.