Home

Lehman Brothers Collapse Detailed in Report by Jenner & Block LLP
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

After a year of arduous investigation, Anton Valukas and his Chicago based law firm, Jenner & Block, LLP, have produced a 2,200 page report regarding the bankruptcy of Lehman Brothers Holdings.

The bankruptcy court appointed Valukas as an examiner to investigate what led to Lehman’s collapse and determine whether creditors could bring claims against Lehman’s estate or former officers.

The report details evidence that Lehman employed “balance sheet manipulation” by utilizing an accounting practice known as “Repo 105”. Essentially, directly before a reporting period, Lehman would enter into an arrangement to sell and then repurchase financial assets. These would normally be classified as “transactions”. However, by adding a cash element Lehman was able to classify them as “sales”. This allowed Lehman Brothers to portray a false picture of financial health.

  
What
Where


In The Times Mar 12 article, Valukas was quoted as saying, “Unable to find a United States law firm that would provide it with an opinion letter permitting the true sale accounting treatment under United States law, Lehman conducted its Repo105 programme under the aegis of an opinion letter the Linklaters law firm in London.”



 

RELEVANT JOBS

Paralegal

USA-TX-Houston

Galloway\'s Houston Office is seeking a Paralegal. Tasks include but not limited to conducting ...

Apply now

Paralegal

USA-AK-Anchorage

Nyquist Law Group, LLC focuses on divorce, child custody, child support, domestic violence, military...

Apply now

Associate Attorney

USA-CA-Pasadena

We are looking for a motivated attorney with 1 to 10 years experience in family law. Very ...

Apply now

Paralegal Specialist

USA-DC-Washington

The Paralegal Specialist position is located in the Office of General Counsel (OGC), Office of the P...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Venture Capital Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks corporate business attorney with...

Apply Now

Real Estate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks transactional real estate attorn...

Apply Now

Experienced Health Care Attorney

USA-ME-Portland

Portland office of a BCG Attorney Search Top Ranked Law Firm is seeking health care attorney with 5-...

Apply Now

SEARCH IN ARCHIVE

To Top