Shocking
Wordpress


The largest bankruptcy in American history emerged from its scarlet letter status today—bankruptcy proceedings for Lehman Brothers have ended as of today, and the estate will began paying back creditors in April, Reuters reported.

It's been over 3 years since Lehman filed for chapter 11 bankruptcy on Sept. 15, 2008. At the time, the company had $639 billion in assets, making it the largest bankruptcy in history—a title it still holds.
Creditors have claimed over $300 billion from the bankrupt firm—Lehman will be distributing approximately $65 billion via a plan approved by a bankruptcy judge last year, according to Reuters.