Lehman Feb 11

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Bundesbank

1. Bundesbank Gets Money Back From Lehman Collapse

   Feb 10, 2015 | AFP (in Yahoo News)

   The German central bank or Bundesbank said Tuesday it has received the final instalment of the money it had invested in Lehman Brothers, 6.5 years after the collapse of the US banking giant.
2. German Central Bank Clear of Debts From 2008 Lehman Bankruptcy

   Feb 10, 2015 | Europe Online Magazine

   Germany‘s central bank said Tuesday that it had cleared the bad debts it incurred when the US financial services firm Lehman Brothers went bust six and a half years ago. The rest of the bad debt of 1.9 billion euros (2.15 billion dollars) was settled in January with the remaining assets of Lehman Brothers and its German subsidiary...

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

Bundesbank

1. Bundesbank Gets Money Back From Lehman Collapse

   Feb 10, 2015 | AFP (in Yahoo News)

   The German central bank or Bundesbank said Tuesday it has received the final installment of the money it had invested in Lehman Brothers, 6.5 years after the collapse of the US banking giant.

   "Our final outstanding claim of around 1.9 billion euros was settled in January from the insolvency assets of Lehman's German subsidiary and the US parent company," the Bundesbank said in a statement.

   "At the end of a six-and-a-half year insolvency and recovery process, we have not only received our initial claim of over 8.5 billion euros. But with the additional interest and costs of around 0.8 billion euros, we've emerged from the process with our accounts in balance," said Bundesbank executive board member Joachim Nagel.

   At the time of the collapse of the US investment bank in mid-September 2008, the Bundesbank, as a member of the Eurosystem of central banks, had claims totalling 8.5 billion euros ($9.6 billion) against Lehman.

   The bank had used highly complex financial instruments such as asset-backed securities (ABS) as collateral for central bank loans...

   For full story:

   https://uk.news.yahoo.com/bundesbank-gets-money-back-lehman-180700705.html#6z2Hl1t
   

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2. German Central Bank Clear of Debts From 2008 Lehman Bankruptcy

   Feb 10, 2015 | Europe Online Magazine

   Germany‘s central bank said Tuesday that it had cleared the bad debts it incurred when the US financial services firm Lehman Brothers went bust six and a half years ago.
   
   The rest of the bad debt of 1.9 billion euros (2.15 billion dollars) was settled in January with the remaining assets of Lehman Brothers and its German subsidiary, Lehman Brothers Bankhaus AG, the Bundesbank said.
   
   "At the end of a six-and-a-half-year liquidation and insolvency procedure, we received not only our initial demand of over 8.5 billion euros, but we can also place a big fat zero on the accrued interest and business costs of 0.8 billion euros," Bundesbank Chairman Joachim Nagel said.
   
   Lehman Brothers was the fourth-biggest US investment bank when it declared the largest bankruptcy in the world in September 2008. The filing is believed to have triggered the global financial crisis.
   
   When Lehman Brothers became insolvent, Germany‘s central bank had monetary claims worth 8.5 billion euros against the US bank as a member of the Eurosystem, the organization comprising the European Central Bank and the eurozone‘s national central banks.
   
   Lehman had deposited complex financial products, like asset-backed securities, against cash from central banks...

   For full story:

   http://en.europeonline-magazine.eu/german-central-bank-clear-of-debts-from-2008-lehman-bankruptcy_376825.html
   

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