Lehman Bros files for bankruptcy

[Legal Beagles]

Lehman Bros files for bankruptcy

Leading US investment bank Lehman Brothers files for bankruptcy, in a move set to add to the turmoil on global markets.

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[EXC]

Re: Lehman Bros files for bankruptcy

I heard an amazing statistic on Lehman. Up until recently the bank ckaimed to have assets of $270 billion. The bank is now worth $3 billion - less than the amount it had set aside for the bonuses of it's directors.

[Legal Beagles]

Black Monday: Bank of England pumps £5bn into markets after collapse of Wall Street g

The Bank of England pumped an extra £5bn into money markets today after two of the biggest investment banks in the world fell victim to the credit crunch.

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[Legal Beagles]

Black Monday: Bank of England pumps £5bn into markets after collapse of Wall Street g

The Bank of England pumped an extra £5bn into money markets today after two of the biggest investment banks in the world fell victim to the credit crunch.

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[Legal Beagles]

Q&A: The collapse of Lehman Brothers

Why has Lehman Brothers gone bust?In short, other banks refused to trade with it. Without the ability to trade, and without investors prepared to bet on its long-term viability, Lehman effectively had no business

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[Amethyst]

Re: Lehman Bros files for bankruptcy

15 September 2008
Today, Lehman Brothers Holding Inc (“LBHI”), a U.S. investment bank, announced that it intends to file a petition under Chapter 11 of the U.S. Bankruptcy Code.
Lehman Brothers is a U.S. institution regulated by the SEC, so the FSA is working closely with the US authorities to ensure an orderly wind down of its principal UK trading subsidiary, Lehman Brothers International (Europe), which was placed into administration earlier this morning.
The FSA is working with market practitioners, including the London Clearing House (LCH), to ensure the process connected with the winding down of this wholesale business is completed in an orderly manner to minimise any market disruption.
Further details are outlined by the firm and can be viewed at www.lehman.com.