Lehman investors receive $100m surprise

Handy to have an ex Wall street baker as a prime minister I’m sure if you are a rich guy investing in risky derivatives. He knows after all were the skeletons are buried, eh.

One group of investors holding collateralised debt obligations issued by the collapsed investment banking giant Lehman Brothers will receive an unexpectedly generous A$100 million on the A$125 million they put into securities between 2005 and 2007.

The out-of-court settlement reached between the Australian trustee of the notes, Perpetual Trustee Company, and the liquidator of Lehman, will mean 1000 retail investors including charities, local councils and a number of superannuation funds will be receiving cheques over the next month.

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