• 05 Aug 2014 at 10:55 AM
  • Banks

Lehman Brothers Still A Totally Viable Business

The corpse of the investment bank has made $8.3 billion more than it expected since it stopped being an investment bank three years and change ago.

The team unwinding Lehman now estimates it will bring in $88.8 billion, buoyed by gains on its real estate, derivatives and private-equity investments along with recoveries from settlements with foreign affiliates.

In a filing Thursday night in U.S. Bankruptcy Court in New York, Lehman said it is boosting its estimated gross recoveries by $8.3 billion over last year’s estimate.

Lehman Raises Estimate of Recovered Funds to $88.8 Billion [WSJ]

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Comments (6)

  1. Posted by Captain Oblivious | August 5, 2014 at 11:20 AM

    I guess selling a trillion dollars worth of shit you could no longer afford and drove you into bankruptcy at .25 on the dollar is a viable business. Other than that I remain bullish on Lehman

  2. Posted by distressed assets? | August 5, 2014 at 1:04 PM

    it's a different entity with a hybrid team of former and new employees that turned the largest bankruptcy in history into an $88bn estate (while generating some nice fees for themselves). i think that sounds pretty viable to me.

  3. Posted by Finance Tool | August 5, 2014 at 2:47 PM

    No shit sherlock. .25 on the dollar is a distressed asset you fucktard. Thanks for enlightening the group as if this wasn't common knowledge already. Fetch

  4. Posted by Clarity Tool | August 5, 2014 at 2:57 PM

    I think they may have understood that the majority of commenters here know what distressed assets are. I also think you may not have completely understood the point they were trying to convey to the original commenter.

  5. Posted by Junior OCC Examiner | August 5, 2014 at 5:45 PM

    What is an asset?

  6. Posted by Guest | August 5, 2014 at 7:08 PM

    Suck on my prestige, biches!