Posts Tagged ‘Lehman Brothers’

Bankrupt Lehman Bros. holds onto uranium

April 15, 2009

The bankrupt investment bank is holding as much as 500,000 pounds of uranium hoping for the uranium market to stop fizzling.  When the market explodes again, they will unleash their stockpile on an unsuspecting world. 


Lehman Brothers collapse subject of giant lawsuit

February 10, 2009

The first part of this extremely long  securities fraud complaint filed in U.S. Southern District Court of Texas, reads like a economics history lesson of the recent past.  While the plaintiffs put Lehman Brothers at the center of  fraudulent activity, they also identify plenty of other culprits including accountants Ernst & Young, Merrill Lynch, principals involved at those companies and more.   The main point of the complaint is that all these players had plenty of information back in 2004 that their recklessly, loose lending practices were about to cause the coming collapse and that sunk them under the weight of debt in 2008.  I’m not sure of the legal grounds but it makes compelling reading.

Complaint courtesy Courthousenews

Lehman Bankruptcy: Austin Property Company Wants $

November 17, 2008

Here is the language from the Thomas Properties CEO:

“”Through this motion, we are seeking to compel Lehman Brothers to accept and honor its obligation to fund the $100 million revolving credit facility.”

So what’s really going on?  Its not like they will get their $100 million from the very bankruptcy investment bank.  Looks like Thomas Properties wants out of the deal to make other arrangements but they can’t until the court says, forgetaboutit.  Just my guess.