Lehman Re is in the hands of provisional liquidators until a hearing scheduled for the middle of next year, it was determined by a Supreme Court judge on Friday, writes Alex Wright. The Bermuda-based life insurance unit filed for bankruptcy protection in August, citing alleged shortfalls on its reinsurance obligations and lawsuits against it in the US.

Robin Mayor, representing the provisional liquidators Peter Mitchell and Geoff Hunter, who were appointed in September, asked Judge Ian Kawaley to adjorn the case until May 21, 2010 while waiting for the conclusion of an ongoing directions hearing concerning a particular asset of the estate, and on the condition that the provisional liquidators file a report every two months to the court and the Lehman Re's creditors.