Lehman Bankruptcy

A key catalyst for the 2008 global financial crisis, the bankruptcy of Lehman Brothers still reverberates for those who lived through it. Here are the accounts of three who were there.

The largest U.S. bank denied wrongdoing in agreeing to settle, and entered the settlement solely to eliminate the burden and cost of litigation, according to papers filed on Friday with the U.S. District Court in Manhattan.

It resolves claims over roughly $900 million of Lehman securities that UBS underwrote and sold between March 2007 and September 2008, court papers show. Lehman filed for bankruptcy protection on September 15, 2008.

Once an iconic financial services major, Lehman went bust in September 2008 and became synonymous with one of the worst financial crises to ever hit the US and global markets.

Lehman Brothers Holdings Inc said on Wednesday it plans to distribute about $14.2 billion to creditors early next month, as the company winds down following its emergence last year from bankruptcy protection.

Nine of the largest global banks on Tuesday expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills". The documents, required by the 2010 Dodd-Frank financial reform law, aim to end too-big-to-fail bailouts by mapping out wa...

JPMorgan also violated rules by refusing to release customers' segregated funds for nearly two weeks after the bankruptcy, the CFTC said.

The debtors of Lehman Brothers, whose stunning collapse in 2008 sparked global financial panic, emerged from a record bankruptcy in a step toward the final chapter for the once-powerful Wall Street investment bank.

A key catalyst for the 2008 global financial crisis, the bankruptcy of Lehman Brothers still reverberates for those who lived through it. Here are the accounts of three who were there.

The largest U.S. bank denied wrongdoing in agreeing to settle, and entered the settlement solely to eliminate the burden and cost of litigation, according to papers filed on Friday with the U.S. District Court in Manhattan.

It resolves claims over roughly $900 million of Lehman securities that UBS underwrote and sold between March 2007 and September 2008, court papers show. Lehman filed for bankruptcy protection on September 15, 2008.

Once an iconic financial services major, Lehman went bust in September 2008 and became synonymous with one of the worst financial crises to ever hit the US and global markets.

Lehman Brothers Holdings Inc said on Wednesday it plans to distribute about $14.2 billion to creditors early next month, as the company winds down following its emergence last year from bankruptcy protection.

Nine of the largest global banks on Tuesday expressed confidence they can be salvaged or dismantled without taxpayer bailouts if they became insolvent, as U.S. regulators released public portions of these banks' "living wills". The documents, required by the 2010 Dodd-Frank financial reform law, aim to end too-big-to-fail bailouts by mapping out wa...

JPMorgan also violated rules by refusing to release customers' segregated funds for nearly two weeks after the bankruptcy, the CFTC said.

The debtors of Lehman Brothers, whose stunning collapse in 2008 sparked global financial panic, emerged from a record bankruptcy in a step toward the final chapter for the once-powerful Wall Street investment bank.