Preview Newsletter

lehman 9/18

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

  1. Ex-Lehman CEO Sells Sun Valley Estate in Record for Auction

    Sep 18, 2015 | Bloomberg

    By Hui-Yong Yu and John Gittelsohn

    A Sun Valley, Idaho, estate owned by Richard “Dick” Fuld, the former chief executive officer of Lehman Brothers Holdings Inc., sold for at least $20 million, a record for a U.S. home offered at an auction.

    2. Full Text of Stories Below

    Client Attorney Privileged/Attorney Work Product/At Request of Counsel

  1. Ex-Lehman CEO Sells Sun Valley Estate in Record for Auction

    Sep 18, 2015 | Bloomberg

    By Hui-Yong Yu and John Gittelsohn

    A Sun Valley, Idaho, estate owned by Richard “Dick” Fuld, the former chief executive officer of Lehman Brothers Holdings Inc., sold for at least $20 million, a record for a U.S. home offered at an auction.

    Six bidders competed for Big Wood River Estate, a 71.3-acre (29-hectare) spread near the Sun Valley ski resort and bordered by a trout fishing stream, according to a statement Thursday from Concierge Auctions, which ran the sale. Potential buyers each were required to deposit $500,000 to participate. The winner was from the Pacific Northwest, Concierge said.

    The auction required a starting bid of $20 million and the home sold for at least that price, said Kari Neering, a spokeswoman for Concierge. The final value will be disclosed when the transaction closes in about 30 days, she said.

    The previous disclosed U.S. record for an auctioned home is $19.25 million, for an estate in Jackson Hole, Wyoming, according to Laura Brady, Concierge’s president.11 Bedrooms

    The Fuld property includes a main home and adjacent buildings with a total of 11 bedrooms and 10 1/2 baths. In a previous off-market listing, the asking price for the estate was $59.5 million. The auction, originally scheduled for Aug. 19, was postponed to let more bidders take part. The pre-sale estimate at the original auction was $30 million to $50 million, according to Brady.

    Fuld led Lehman from 1994 until the financial firm’s Sept. 15, 2008, bankruptcy triggered a Wall Street meltdown. He decided to sell the estate because he rarely visited Sun Valley in recent years, Brady said.

    For full story:

    http://www.bloomberg.com/news/articles/2015-09-18/dick-fuld-s-sun-valley-estate-sets-u-s-record-at-home-auction

    Return to headline | Return to top

    2. Full Text of Stories Below

Add recipients

Suggested