Lehman Brothers plans to settle some of its debt — RT

breakingnews

Go to main page USA News Lehman Brothers plans to settle some of its debt

Follow RT on

facebook twitter YouTube Google+

MORE ON THE STORY

14.09.2009, 17:34

Marking a year of world’s financial woes

It's a year since the collapse of investment bank Lehman brothers, which heralded the start of the global financial meltdown. US President Obama addressed the nation from Wall Street.

16.09.2009, 14:53

Russia’s year in the wake of Lehman Brothers

It’s a year ago this week that the global financial circulation system had its closest near death experience in a generation. That saw a chain of events which haven’t left Russia unscathed.

15.09.2009, 19:07 3 comments

Lehman’s collapse – the real story

The anniversary of Lehman Brothers’ collapse has been an excuse for politicians from President Obama downwards to voice their platitudes in broadcast and print.

04.11.2009, 20:32 10 comments

Shock GM decision on Opel sale draws ire

The GM decision to back out of the planned sale of a 55% stake in Opel has sparked an angry response in Berlin and concern in Moscow, after months of negotiations went nowhere.

Dmitry Medvedev (AFP Photo / Natalia Kolesnikova)

12.11.2009, 14:36 8 comments

Down-to-earth problems at the core of Medvedev’s second address

On Thursday, Russian President Dmitry Medvedev delivered his second address to the nation’s parliament, The Federal Assembly. He touched on urgent problems society currently faces, and spoke of pragmatic solutions.

01.06.2009, 22:02 6 comments

IMF predicts sharp contraction as private funds desert Russia

The international monetary fund has issued a new forecast for the Russian economy for this year. It's predicting a sharp contraction, but there's some good news amongst the grim statistics.

19.03.2010, 13:31 6 comments

Russian ‘Silicon Valley’ to be built near Moscow

President Medevev has announced during a speech to young scientists that Russia is to build its equivalent of Silicon Valley in the village of Skolkovo near Moscow.

31.07.2009, 17:58

FBK: After a year of global financial crisis and economic downturn

With the global financial crisis and ensuing economic slowdown passing its first anniversary, Business RT spoke with Igor Nikolaev, Director of Strategic Development at FBK about how the Russian economy has fared.

Russian Federation, Moscow : Russian Prime Minister Vladimir Putin delivers a speech at an investment forum in Moscow on September 29, 2009. (AFP Photo / Natalia Kolesnikova)

29.09.2009, 20:04 5 comments

Leaders commit to market with state control set to go beyond 50%

Russia is preparing for a new wave of privatization according to Prime Minister Vladimir Putin. The move could help not only improve Russia’s budget outlook, but also its image.

12.03.2010, 14:39 5 comments

Russia to bridge budget deficit with bond issue

Russia's budget deficit in January and February reached $6.6 billion, according to the Finance Ministry. The government hopes to limit the annual deficit to about 7% in 2010 and fill the gap between income and spending.

Lehman Brothers plans to settle some of its debt

Link copied to clipboard

email story to a friend print version

Published: 18 March, 2010, 06:11
Edited: 22 March, 2010, 21:28

(6.1Mb) embed video

TAGS: Investment, USA, Finance

Investors that have lost money trading with Lehman Brothers could get some of their investments back through a new restructuring scheme.

The scheme, proposed by the 158-year old financial giant that collapsed some 18 months ago, would entail selling off its assets to repay its debt.

Lehman officials have stated that their main goal is to reach settlements as quickly as possible and to avoid any litigation. According to their plan, creditors with third-party guaranteed claims would be dealt with first. It is estimated that they would recover up to $94.1 billion, while affiliate creditors with guaranteed claims would recover approximately $21 billion.

The scheme would also involve the establishment of a unit that would manage what is left of the bank’s property and investments.

Read also: Moscow and Shanghai approach World's financial center status

Follow @rt_com Back to top

Share

Share on Tumblr

previous next MORE NEWS

17.03.2010, 23:24 7 comments

Teen suicide a fact of life on Native American reservations

Pine Ridge is one of the poorest Indian reservations in the United States. An 80 percent unemployment rate and little hope for the future has translated into a growing number of teen suicides.

18.03.2010, 09:06

START talks may enter final straight as Clinton visits Moscow

US Secretary of State Hillary Clinton is in Moscow for talks on the new Strategic Arms Reduction Treaty, or START. The signing has reportedly stalled over US plans to install anti-missile defense units in Eastern Europe.

myspace hit counter