Lehman Brothers

Lehman BrothersIn fairness, no one has officially measured and reported the size of Jonathan Hoffman’s testicles. But you’d have to figure they’re pretty big to hugely big based on the fact that he’s put forth the argument that:

  • Barclays paid him the $84 million he was owed by Lehman Brothers for his work in 2008, which was quite nice of them…
  • …Having said that, that doesn’t leave Lehman Brothers off the hook…
  • …While Lehman contends that Barclays paid the bonus because it took over all the Lehman employee contracts…
  • …Hoffman delightfully argues that he and Barclays had their own separate contractual agreement because he was hired by the British bank independent of its deal with Lehman1
  • …and therefore the Lehman estate still owes him his god damn money…

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  • 12 Nov 2014 at 12:14 PM

Dick Fuld Ready To Hit The Party Circuit Again

Ready to partyAfter keeping a fairly low profile over the past 6 years, following the whole implosion of Lehman Brothers situation, Fuld announced Monday night that he’s ready to rock. Text him the details of this weekend’s rager and he’s there, assuming the ole ball and chain doesn’t have other ideas. Read more »

The corpse of Lehman Brothers wants the Second Circuit Court of Appeals to take a really close look at the part of its bankruptcy that say “no cash” should go to Barclays when it bought Lehman’s brokerage. Because, you know, their honors this month said that Barclays could have $4 billion in cash from the brokerage, and, not to belabor the point, but that seems like a lot more than “no cash.” Read more »

  • 13 Aug 2014 at 6:02 PM

Ernst & Young Can’t Believe Its Luck

Re: Getting off scot-free for telling Lehman Brothers that it could just write all of those things off. So it’s pinching itself, basically appealing the miraculous verdict so that no one can take it away. Read more »

  • 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. Read more »

Who Wants A 20% Stake In A Fabulously Successful Hedge Fund?

Nobody, apparently. Read more »

A small group of firms that waded into the morass in the aftermath of the financial crisis, including Paulson & Co., King Street Capital Management LP, Varde Partners Inc., Halcyon Asset Management LLC and Solus Alternative Asset Management LP have made billions of dollars trading in the debt. As claims are being paid out, often at a multiple of initial estimates, investors that have spent years analyzing the bankruptcy are ploughing money back into newly available loans, such as those between the investment bank’s Hong Kong and U.S. units, fueling a rally unmatched by stocks and high-risk bonds. [Bloomberg]

  • 20 Feb 2014 at 12:55 PM
  • Banks

Former Bank Gets Extra $3.7 Billion Or So To Play Around With

Lehman Brothers was perhaps not as extremely well-capitalized or strongly liquid as Dick Fuld claimed, but its corpse is looking pretty well-capitalized today. Read more »