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Thursday, September 24, 2009
Claims Against Lehman Brothers of More Than $150 Billion Filed
By Kathryn Elizabeth Tuggle
FOXBusiness
Administrators at Lehman Brothers’ European unit filed claims against the parent company on Thursday that may total $150 billion.
The European unit is the first in a series of companies-- including Abu Dhabi Investment Authority and London-based hedge fund GLG Partners-- to file claims against the now-defunct Lehman.
Thursday’s claims were filed by more than 100 creditors, in the latest move to get back billions of dollars in losses that were felt when the company collapsed one year ago.
Approximately two dozen companies filing claims are Lehman-related, while dozens more are controlled by PricewaterhouseCoopers. Lehman estimated it had $613 billion in debt when it collapsed.
In the last few days, officials at PricewaterhouseCoopers have submitted claims totaling $50 billion to the U.S. Bankruptcy Court for the Southern District of New York, according to The Wall Street Journal. Pricewaterhouse is preparing additional claims relating to the parent company that should equal $100 billion.
The claims are the latest in a series of approximately 20,000 that were filed against Lehman in bankruptcy court, according to the Journal.
Barclays (BCS) bought many of Lehman's assets after Lehman declared bankruptcy last fall.
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