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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 This material may not be published, broadcast, rewritten or redistributed.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 60 179 1,143
MORTGAGES 61 224 1,543
FORECLOSURE NOTICES 32 59 356
BUILDING PERMITS 575 943 2,933
BANKRUPTCIES 61 174 1,117
BUSINESS LICENSES 27 87 481
UTILITY CONNECTIONS 68 216 1,541
MARRIAGE LICENSES 7 37 231

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