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VOL. 127 | NO. 46 | Wednesday, March 7, 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 This material may not be published, broadcast, rewritten or redistributed.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 56 308 6,247
MORTGAGES 58 345 7,437
FORECLOSURE NOTICES 0 37 1,152
BUILDING PERMITS 244 800 13,391
BANKRUPTCIES 49 202 4,549
BUSINESS LICENSES 34 120 2,482
UTILITY CONNECTIONS 0 110 2,650
MARRIAGE LICENSES 20 85 1,320

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