The U.K. Supreme Court has ruled that hedge fund GLG Partners can appeal a lower court ruling that said that all customers of the prime brokerage unit of Lehman Brothers International Europe can recoup their assets from a $2.1 trillion pool regardless of whether or not the assets were properly segregated.
GLG Partners, a unit of London-based Man Group plc, had said that only assets that are properly segregated by Lehman Brothers International – aka separated from the parent firm --could share in a pool of $2.1 trillion in assets. The U.K. Supreme Court made its decision on December 20.
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