Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Brookfield Asset Management    BAM.A   CA1125851040

BROOKFIELD ASSET MANAGEMENT

(BAM.A)
  Report  
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Nine years on, another Lehman Brothers bankruptcy

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/01/2017 | 04:22pm EDT
FILE PHOTO: Lehman Brothers name moves across a news ticker in New York's Times Square

WILMINGTON, Del (Reuters) - Two affiliates of Lehman Brothers, the U.S. investment bank that collapsed in 2008 and fueled an economic crisis, filed for Chapter 11 bankruptcy late on Thursday, a reminder of the complexity of unwinding a global financial institution.

The two affiliates, Lehman Brothers U.K. Holdings (Delaware) Inc and Lehman Pass-Through Securities Inc, were put into bankruptcy as part of a deal that will generate $485 million cash for the Lehman estate, according to court documents.

The affiliates own residential mortgage-backed securities, real estate and stock in First Data Corp (>> First Data Corp), which helps process credit card transactions, among other assets, according to papers filed in the U.S. bankruptcy court in Manhattan. Affiliates of Brookfield Asset Management Inc of Canada (>> Brookfield Asset Management Inc) are buying stakes in the Lehman affiliates, which were put into bankruptcy to carry out the deal.

Administrators have spent years winding down Lehman's holdings and have distributed around $147 billion to creditors, according to court records.

More than 100 people still work for Lehman and the case remains one of the largest U.S. bankruptcies, even after the distributions to creditors. The estate holds $7 billion of assets, much of it cash, as it works through hundreds of remaining creditor claims and legal disputes.

Lehman is currently in the midst of a trial, already 42 days long, seeking $2 billion from Citigroup Inc (>> Citigroup) over disputed derivative claims. Citigroup has denied it owes the money to Lehman.

The memory of Lehman's dramatic failure has sparked regulatory efforts to prevent another damaging collapse. On Friday, the U.S. Federal Reserve finalized a rule aimed at making it easier to wind down large banks.

(Reporting by Tom Hals in Wilmington, Delaware; Editing by Steve Orlofsky)

By Tom Hals

Stocks treated in this article : Citigroup, Brookfield Asset Management Inc, First Data Corp
Stocks mentioned in the article
ChangeLast1st jan.
BROOKFIELD ASSET MANAGEMENT 1.49% 64.18 Delayed Quote.20.87%
CITIGROUP INC. 2.16% 67.98 Delayed Quote.27.81%
FIRST DATA CORP 0.04% 26.53 Delayed Quote.56.83%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BROOKFIELD ASSET MANAGEMEN
06/17Brookfield Asset Management Announces Results of Annual and Special Meeting o..
GL
06/10BROOKFIELD ASSET MANAGEMENT : New Brookfield Fund Brings in $14.5 Billion
DJ
06/07Brookfield Business Partners Completes Acquisition of Healthscope
AQ
06/05CARBON HEALTH : Secures $30 Million Series B Funding To Reimagine The Consumer H..
BU
06/04BROOKFIELD ASSET MANAGEMENT : Announces Reset Dividend Rate on Its series 25 Pre..
AQ
06/03BROOKFIELD ASSET MANAGEMENT : Announces Reset Dividend Rate on Its series 25 Pre..
AQ
06/01BROOKFIELD BUSINESS PARTNERS LP : Completes Sale of BGIS
AQ
05/31BROOKFIELD ASSET MANAGEMENT : Globeleq acquires 80MW of Brookfields wind, solar ..
AQ
05/30BROOKFIELD ASSET MANAGEMENT : Nears Deal for 50% Stake in KKR's X-Elio
DJ
05/30BROOKFIELD ASSET MANAGEMENT : Ex-dividend day for
FA
More news
Financials ($)
Sales 2019 61 448 M
EBIT 2019 8 609 M
Net income 2019 -
Debt 2019 -
Yield 2019 1,32%
P/E ratio 2019 20,04
P/E ratio 2020 19,30
Capi. / Sales 2019 0,77x
Capi. / Sales 2020 0,79x
Capitalization 47 543 M
Chart BROOKFIELD ASSET MANAGEMENT
Duration : Period :
Brookfield Asset Management Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BROOKFIELD ASSET MANAGEMEN
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 48,8 $
Spread / Average Target 2,1%
EPS Revisions
Managers
NameTitle
James Bruce Flatt Chief Executive Officer & Director
Frank J. McKenna Chairman
Lori Pearson Chief Operating Officer & Senior Managing Partner
Brian Douglas Lawson Chief Financial Officer & Senior Managing Partner
Jeffrey Miles Blidner Director & Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
BROOKFIELD ASSET MANAGEMENT20.87%45 904
BLACKROCK INC.12.04%64 884
UBS GROUP-4.74%44 210
BANK OF NEW YORK MELLON (THE)-6.63%41 221
CHINA CINDA ASSET MANAGEMENT CO LTD-6.81%24 407
STATE STREET CORPORATION-13.54%20 897