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    Hedge funds emerge as winners after Lehman's fall

    An estimated £40 billion will be paid out to Lehman Brothers' creditors

    Opportunistic hedge funds and distressed debt traders who snapped up creditors' claims on

    Lehman Brothers in London have made four times their money, according to the joint administrator.

    Tony Lomas, an insolvency partner at PwC, said that he expected creditors to receive even more

    than the 116.2p in the pound he estimated in March. He plans to announce a new higher figure next month.

    Full story The Times.

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