The Failure Resolution of Lehman Brothers

Michael Fleming and Asani Sarkar

No 20140403, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The bankruptcy of Lehman Brothers and its 209 registered subsidiaries was one of the largest and most complex in history, with more than $1 trillion of creditor claims in the United States alone, four bodies of applicable U.S. laws, and insolvency proceedings that involved over eighty international legal jurisdictions. The experience of resolving Lehman has led to an active debate regarding the effectiveness of applying the U.S. Chapter 11 Bankruptcy Code to complex financial institutions. In this post, we draw on our Economic Policy Review article to highlight the challenges of resolving Lehman in the U.S. Bankruptcy Court.

Keywords: Lehman; bankruptcy; resolution; Chapter; 11 (search for similar items in EconPapers)
JEL-codes: G2 G3 (search for similar items in EconPapers)
Date: 2014-04-03
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Citations: View citations in EconPapers (8)

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Journal Article: The failure resolution of Lehman Brothers (2013)
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