Lehman Brothers’ Long Unwinding Road
March 7, 2012 by UPI - United Press International, Inc.
NEW YORK (UPI) — Court documents show Lehman Brothers Holdings, the New York bank that did not survive the financial crisis, still has $65 billion in assets to sell.
The bank emerged from bankruptcy court Tuesday. But the bank that had 25,000 employees when it folded still has huge holdings left to unwind.
The bank still owns $10 billion in real estate, $9 billion in equity investments, $3 billion in corporation loans and $2 billion in derivatives, CNNMoney reported Tuesday.
There are also many lawsuits to settle. Notably, Lehman Brothers is entangled in a legal dispute with JPMorgan Chase concerning the rival bank’s role in Lehman Brothers’ bankruptcy.
By one measure, Lehman Brothers has done well since filing for bankruptcy in 2008, as equity markets have risen about 20 percent since then.
On the other hand, it has also had to shell out $1.6 billion in fees since then, CNNMoney said.