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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 This material may not be published, broadcast, rewritten or redistributed.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 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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