TITLE

Clearer Cooperation Could Have Produced Bigger 'Pot' of Lehman Assets for Creditors

AUTHOR(S)
Hintze, John
PUB. DATE
May 2010
SOURCE
Securities Industry News;5/17/2010, Vol. 22 Issue 10, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the likelihood for the creditors of Lehman Brothers Holdings Inc. to receive millions of U.S. dollars prior to its declaration of bankruptcy in 2008 if there was cooperation among clearinghouses for securities and derivatives. It notes that transparency on how clearinghouses approached liquidation could have an advantage to creditors in the bankruptcy proceedings. Among the clearinghouses affected by the Lehman collapse were Fixed Income Clearing Corp. (FICC), Depository Trust & Clearing Corp., and CME Group Inc.
ACCESSION #
53771550

 

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