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Lehman Brothers Names Wind-Down Board

December 5, 2011
The bankruptcy estate of Lehman Brothers Holdings has named  a new board of directors to help finish winding down the collapsed financial firm, reports the WSJournal. The new board, made up of seven experts in restructuring, real estate and derivatives who do not have ties to Lehman, will oversee the liquidation of tens of billions in assets for the benefit of Lehman creditors. Lehman reported $639 billion of assets when it filed for protection from creditors on 9/15/08, in the largest U.S. bankruptcy.  The filing was a major trigger of that year's global financial crisis. Lehman once was the 4th-largest U.S. investment bank. Click here for further details and to view the director list.   [WSJournal 12/5/11]