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

Associate Attorney

USA-CA-Fresno

Coleman & Horowitt, LLP seeks lawyers with 3+ years for business and commercial litigation, includin...

Apply now

Business Law Paralegal

USA-CA-Murrieta

We are looking for an organized, professional, experienced Business Law Paralegal to join our team a...

Apply now

Office Services Clerk

USA-CA-Murrieta

We are currently seeking an experienced, competent Office Services Clerk for our Murrieta, CA office...

Apply now

Associate Attorney

USA-CA-Orinda

Finance and Corporate Attorney Needed Bay Area Law firm looking for Associate Attorney with prosp...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Housing Finance Associate Attorney

USA-MN-Minneapolis

Minneapolis office of a BCG Attorney Search Top Ranked Law Firm seeks a housing finance associate at...

Apply Now

Senior Intellectual Property Litigation Associate Attorney

USA-PA-Philadelphia

Philadelphia office of a BCG Attorney Search Top Ranked Law Firm seeks a senior intellectual propert...

Apply Now

Senior Intellectual Property Litigation Associate Attorney

USA-GA-Atlanta

Atlanta office of a BCG Attorney Search Top Ranked Law Firm seeks a senior intellectual property lit...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top