PricewaterhouseCoopers, the European administrator for investment bank Lehman Brothers, is spending £4m (€4.7m) a week as it works through the complexities of the failed bank's $1 trillion (€786bn) balance sheet, the financial services firm said today.

Details of the cost and scale of the administration process, which was sparked after Lehman collapsed September 15, emerged following the first European creditors meeting, which was held at London's O2 stadium Friday.