PwC expects about ￡40 billion (US$63.3 billion) to be returned to LBIE’s creditors, including near ￡23 billion for trust claimants and about ￡16 billion for up to 3,400 unsecured creditors.
Two dividends worth a combined 68.5 percent of claims have already been paid to unsecured creditors and another dividend in November should take the tally toward 100 percent, Lomas said.
LBIE has had about 500 staff working on the wind-down, complemented by 200 PwC staff, all under Lomas in a Canary Wharf tower that is within sight of the former Lehman European headquarters. More than 350 staff are former Lehman employees.
Lomas, 56, who has previously worked on the bankruptcies of MG Rover and the European arm of Enron, said LBIE was likely to keep him busy until he retires in four years.
“It’s 20 times as complex and big as Enron. It’s unparalleled,” he said.