The Administrators have now confirmed that creditors of Lehman Brothers International Europe’s (LBIE) UK and European operations will receive 100p in £. In other words. their claims will be repaid in full.
LBIE became insolvent in September 2008 as a result of the collapse of parent company Lehman Brothers. However, the company was not “balance sheet” insolvent, but due to lack of liquidity was deemed “cash flow insolvent”. The second insolvency test.
Source: Insolvency News