Thursday, 16 September 2010

The Guardian's take on the Lehman Brothers' insolvency - insolvency as firefighting

The Guardian have published an interesting article on the Lehman Brothers'  insolvency. The article is particularly interesting as it provides a senior insolvency practitioner's perspective on a large scale administration. Some 800 people are reported to be working on the case. In terms of speed of response to an impending insolvency PWC's Mike Jervis notes:

"It's a bit like being a fireman. When the bell goes off you've got to go down the pole and get on with it,"

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