On 29th October 2008 the Swiss Financial Market Supervisory Authority (FINMA) ordered Lehman Brothers Finance AG to be liquidated, on 22nd December 2008 bankruptcy was ordered. PricewaterhouseCoopers as appointed bankruptcy liquidators are undertaking proceedings to:

• assert control over the assets of Lehman Brothers Finance AG
• recover cash on deposits or investments – implement a mechanism for the return of assets
• mandate law firms to safeguard companies interests
• form policies for handling of pending and failed trades
• identify and value derivative contracts
• ensure appropriate human resources and local infrastructure
• communicate with creditors

Lehman Brothers Finance AG (LBF) is a 100% subsidiary of Lehman Brothers Holdings Inc. which filed for Chapter 11 on 15th September 2008. LBF's principle business was the execution of tailor made OTC equity derivatives transactions for institutional clients.