Lehman Brothers' Bankruptcy Petition

Primary sources exposed and explained.
Sept. 17 2008 4:09 PM

Lehman Brothers' Bankruptcy Petition


On Sept. 15, Lehman Bros. Holdings petitioned the U.S. Bankruptcy Court to allow the company to work out a plan under Chapter 11 of the U.S. Bankruptcy Code to repay $613 billion in debt (excerpts below and on the following 10 pages; full petition here). Lehman, until this week one of America's most admired businesses, owes "over 100,000" unsecured creditors (below). The financial services company's "30 largest unsecured claims" (Pages 3-10) include $156 billion in investment bonds (Pages 3-4); nearly $17 billion in loans from Japanese banks; unpaid notes from lenders in Australia, Taiwan, Singapore, Korea, and Norway; and loans from a handful of American institutions.

Under supervision of the court, the investment bank has begun to sell off assets  that were worth $639 billion as recently as May 31 (Page 11). They are worth far less now. 


Send Hot Document ideas to documents@slate.com.



Frame Game

Hard Knocks

I was hit by a teacher in an East Texas public school. It taught me nothing.

There Are New Abuse Allegations Against Adrian Peterson

After This Merger, One Company Could Control One-Third of the Planet's Beer Sales

John Oliver Pleads for Scotland to Stay With the U.K.

If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter


Don’t Expect Adrian Peterson to Go to Prison

In much of America, beating your kids is perfectly legal. 

The Juice

Ford’s Big Gamble

It’s completely transforming America’s best-selling vehicle.

I Tried to Write an Honest Profile of One of Bollywood’s Biggest Stars. It Didn’t Go Well.

Here’s Why College Women Don’t Take Rape Allegations to the Police

The XX Factor
Sept. 15 2014 1:51 PM Here’s Why College Women Don’t Take Rape Allegations to the Police
  News & Politics
Sept. 15 2014 8:56 PM The Benghazi Whistleblower Who Might Have Revealed a Massive Scandal on his Poetry Blog
Sept. 15 2014 7:27 PM Could IUDs Be the Next Great Weapon in the Battle Against Poverty?
Sept. 15 2014 4:38 PM What Is Straight Ice Cream?
  Double X
The XX Factor
Sept. 15 2014 3:31 PM My Year As an Abortion Doula
  Slate Plus
Tv Club
Sept. 15 2014 11:38 AM The Slate Doctor Who Podcast: Episode 4  A spoiler-filled discussion of "Listen."
Brow Beat
Sept. 15 2014 8:58 PM Lorde Does an Excellent Cover of Kanye West’s “Flashing Lights”
Future Tense
Sept. 15 2014 4:49 PM Cheetah Robot Is Now Wireless and Gallivanting on MIT’s Campus
  Health & Science
Bad Astronomy
Sept. 15 2014 11:00 AM The Comet and the Cosmic Beehive
Sports Nut
Sept. 15 2014 9:05 PM Giving Up on Goodell How the NFL lost the trust of its most loyal reporters.