{"id":1662772,"date":"2022-09-28T15:51:39","date_gmt":"2022-09-28T19:51:39","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1662772"},"modified":"2022-09-28T15:52:29","modified_gmt":"2022-09-28T19:52:29","slug":"after-14-years-lehman-brothers-brokerage-ends-liquidation","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/after-14-years-lehman-brothers-brokerage-ends-liquidation\/","title":{"rendered":"After 14 years, Lehman Brothers\u2019 brokerage ends liquidation"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fafter-14-years-lehman-brothers-brokerage-ends-liquidation%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1662772&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Jonathan Stempel<\/p>\n<p>NEW YORK (Reuters) \u2013     The liquidation of Lehman Brothers\u2019 brokerage unit has ended, 14 years and 13 days after its parent\u2019s bankruptcy helped trigger a market freefall and global financial crisis.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>U.S. Bankruptcy Judge Shelley Chapman in Manhattan closed the brokerage\u2019s estate on Wednesday and awarded final payments to the trustee who oversaw its liquidation and his law firm.<\/p>\n<p>More than $115 billion was paid out.<\/p>\n<p>Lehman\u2019s 111,000 customers received all $106 billion they were owed, and secured creditors also received full payouts.<\/p>\n<p>Unsecured creditors recovered $9.4 billion, or about 41 cents on the dollar. They were originally expected to recover about 20 cents on the dollar.<\/p>\n<p>Lehman Brothers Holdings Inc, the brokerage\u2019s parent, had been Wall Street\u2019s fourth-largest investment bank before filing what remains by far the largest U.S. bankruptcy on Sept. 15, 2008.<\/p>\n<p>Its collapse led to much debate over whether and in what circumstances companies should be allowed to fail.<\/p>\n<p>Barclays Plc bought most of Lehman\u2019s U.S. brokerage assets early in the financial crisis. The parent\u2019s Chapter 11 bankruptcy plan was confirmed in 2011.<\/p>\n<p>Lehman\u2019s demise taught that \u201ca failure of a large financial institution should be avoided, but history tells us that it is inevitable,\u201d the brokerage\u2019s trustee James Giddens said in a statement.<\/p>\n<p>Giddens\u2019 law firm Hughes Hubbard &#038; Reed was awarded $424 million as final compensation for 14 years of work on the case.<\/p>\n<p> (Reporting by Jonathan Stempel in New York; editing by Jonathan Oatis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/after-14-years-lehman\/attachment\/file-photo-lehman-brothers-in-london\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8R0U4-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8R0U4-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Jonathan Stempel NEW YORK (Reuters) \u2013 The liquidation of Lehman Brothers\u2019 brokerage unit has ended, 14 years and 13 days after its parent\u2019s bankruptcy helped trigger a market freefall<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1662772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1662772","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1662772"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1662772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1662772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1662772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1662772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}