Monday, December 29, 2008

Chaotic end to Lehmans 'cost $75bn in value' - Business News, Business - The Independent

The sudden, chaotic bankruptcy of Lehman Brothers in September wiped out $75bn of value that could and should have been saved, if the bankruptcy filing had been more properly planned, according to the man administering the remains of what used to be the fourth-largest US investment bank.

Bryan Marsal, of the financial advisory firm Alvarez & Marsal, says that creditors who are owed a total of $200bn (£138bn) might have got close to half their money back if "fundamental rules of crisis management" had been applied.
Chaotic end to Lehmans 'cost $75bn in value' - Business News, Business - The Independent
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