Lehman estate seeks backing for assets plan
Lehman estate seeks backing for assets plan
Lehman estate seeks backing for assets plan
The estate that controls what remains of Lehman Brothers sought aEnergy saving bulbs US bankruptcy court’s #xapproval to forge an independent money-management business that would operate even after Lehman’s assets are liquidated.
Eighteen months after Lehman’s collapse in September 2008 deepened the global financial crisis and led to the biggest bankruptcy in US corporate history, the aftershocks continue to ripple through Wall Street.
The estate filed its plan on Monday to liquidate Lehman’s remaining assets and how it might distribute the proceeds to creditors of the holding company and its 22 subsidiaries.
The court has unsealed an examiner’s reportEnergy saving bulbs on the causes of Lehman’s downfall that unearthed evidence that could prompt future claims against top executives such as Dick Fuld and Ernst & Young,google排名, Lehman’s outside auditor.
John Suckow, president and operating chief of the Lehman estate, told the Financial Times on Monday that it was “way too early” to assess how the report would affect the creditors’ pursuit of claims or help the estate repay investors, vendors and other parties seeking more than $800bn.
The Lehman estate has also filed#x a motion with the court to formalise the creation of Lamco, the asset-management business formed under bankruptcy protection toEnergy saving bulbs oversee the real estate, mortgages, private equity investments and derivatives that the estate controls.
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