Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsWorldLehman Brothers close to naming a new board - WSJ

    Lehman Brothers close to naming a new board - WSJ

    The bankruptcy estate of Lehman Brothers Holdings (LEHMQ.PK) is close to naming a new board of directors to help finish winding down the collapsed financial firm, the Wall Street Journal said, citing people familiar with the matter.

    December 05, 2011 / 11:40 IST

    The bankruptcy estate of Lehman Brothers Holdings is close to naming a new board of directors to help finish winding down the collapsed financial firm, the Wall Street Journal said, citing people familiar with the matter.


    The new board, made up of seven experts in restructuring, real estate and derivatives who are not tied to Lehman, will oversee the liquidation of tens of billions of dollars in assets for the benefit of Lehman creditors, the people told the WSJ.


    A Lehman spokeswoman declined to comment to the Journal. Lehman could not be immediately reached for comment by Reuters outside regular US business hours.

    Lehman reported USD 639 billion of assets when it filed for protection from creditors on September 15, 2008, in the largest US bankruptcy. The filing was a major trigger of that year's global financial crisis. Lehman was once the fourth-largest US investment bank.

    first published: Dec 5, 2011 10:33 am

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347