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VOL. 127 | NO. 46 | Wednesday, March 07, 2012

Lehman to Emerge From Bankruptcy and Wind Down

AP

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NEW YORK (AP) – Lehman Brothers, the investment bank that failed at the depths of the financial crisis, says it will sell the last of its assets starting in April.

Lehman said Tuesday it is emerging from Chapter 11 bankruptcy, which frees the company to sell its assets and distribute the cash to creditors. In effect, it means the failed bank is preparing to meet its end.

Lehman filed for bankruptcy on Sept. 15, 2008. It was the largest bankruptcy filing in history and marked the demise of a 158-year-old company. Lehman's collapse was beginning of the worst days of the financial crisis.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 153 14,870
MORTGAGES 64 144 19,474
FORECLOSURE NOTICES 0 22 3,817
BUILDING PERMITS 217 359 35,689
BANKRUPTCIES 59 121 14,155
BUSINESS LICENSES 24 86 5,077
UTILITY CONNECTIONS 71 170 21,603
MARRIAGE LICENSES 22 59 4,616

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