Lehman Brothers

Analysis and Comment (3)

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More of the same: the UK government’s banking reform bill is merely another capitulation to the banking lobby. AAP

UK banking reform bill won’t curb reckless risk-taking

By Prem Sikka, University of Essex

Some four and-a-half years after the banking crisis that has resulted in massive public debt and a deep austerity program, the UK government has finally unveiled its Financial Services (Banking Reform…
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A rare win for investors: Litigation funder IMF (Australia) helped fund a class action case against Grange Securities, which was found to have misled unsophisticated investors. AAP

Too late for Storm, but bank liability the lesson from Wingecarribee

By Pat McConnell

Justice Steven J. Rares was blunt when he handed down his judgement in the long-running class action, Wingecarribee Shire Council vs. Lehman Brothers Australia, last week. Grange Securities, a subsidiary…
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The Federal Court has ordered Lehman Brothers to pay hundreds of millions of dollars in compensation to three local Australian councils. Ozdos

Understanding the Federal Court’s landmark ruling against Lehman Brothers

By Justin O'Brien

“How was it that relatively unsophisticated Council officers came to invest many millions of ratepayers’ funds in these specialised financial instruments? That is the fundamental question at the heart…

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