Deals
Lehman's European Unit Is Put Into Administration
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Lehman Brothers Holdings Inc.'s International Europe unit will be wound up by administrator PricewaterhouseCoopers LLP, a process that may take as long as six years, the accounting firm said.
``Lehman Brothers, the principal U.K. trading company in the Lehman group, was placed in administration earlier this morning, together with three other group companies,'' New York-based PwC said in a statement today. ``The U.K. trading operation found itself unable to meet its obligations when the flow of funds dried up last night.''