Lehman Brothers' UK arm to claim for $100bn

Administrators of the UK arm of Lehman Brothers today said they were preparing up to US$100bn (€70bn) in claims against the US parent as the year anniversary of the bank's collapse nears.

PricewaterhouseCoopers (PwC) is working on the mammoth claims on behalf of more than 100 units that fell under London's remit, with the winding-up process gathering pace ahead of a looming deadline.