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Lehmans emerges from bankruptcy
Lehman Brothers has emerged from bankruptcy and is now a liquidating company that will begin the process of paying back its creditors and investors, before finally being wound up.
The one-time financial behemoth will start distributing what it expects to be a total of around $65bn to creditors on 17 April, it said in a statement.
Lehmans has previously stated that first group of payments to creditors will be at least $10bn. The collapse of Lehmans in 2008 is regarded by many as the height of the 2008 financial crisis.
Then, almost 1,300 days ago, Lehman Brothers Holdings Inc filed its record $639m bankruptcy, its businesses around the world collapsed, and investors from the smallest towns to the largest pension funds lost money.