Linklaters has been embroiled in a fresh controversy over the collapse of Lehman Brothers after a new report revealed that the bank relied on an opinion letter from the firm for a transaction that flattered its financial strength. A report published on Thursday (11 March) by US law firm Jenner & Block on the Chapter 11 proceedings of Lehman Brothers accuses the bank of using aggressive accounting practices to mask the true state of its finances ahead of its collapse in 2008.
March 12, 2010 at 08:40 AM
1 minute read
The original version of this story was published on Legalweek
Linklaters has been embroiled in a fresh controversy over the collapse of Lehman Brothers after a new report revealed that the bank relied on an opinion letter from the firm for a transaction that flattered its financial strength.
A report published on Thursday (11 March) by US law firm Jenner & Block on the Chapter 11 proceedings of Lehman Brothers accuses the bank of using aggressive accounting practices to mask the true state of its finances ahead of its collapse in 2008.
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