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After 14 years, Lehman Brothers' brokerage ends liquidation process

The liquidation of Lehman Brothers' brokerage unit has ended, 14 years and 13 days after its parent's bankruptcy helped trigger a market freefall and global financial crisis

Lehman Brothers
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Lehman Brothers

Reuters New York
The liquidation of Lehman Brothers' brokerage unit has ended, 14 years and 13 days after its parent's bankruptcy helped trigger a market freefall and global financial crisis.
 
U.S. Bankruptcy Judge Shelley Chapman in Manhattan closed the brokerage's estate on Wednesday and awarded final payments to the trustee who oversaw its liquidation and his law firm.
 
More than $115 billion was paid out.
 
Lehman's 111,000 customers received all $106 billion they were owed, and secured creditors also received full payouts.
 
Unsecured creditors recovered $9.4 billion, or about 41 cents on the dollar. They were originally expected to recover about 20 cents

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First Published: Sep 29 2022 | 7:38 AM IST

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