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Lehman Brothers Chapter 11 hurts Freddie Mac
On September 15, 2008, Lehman Brothers Holdings Inc. ("Lehman") announced that it had filed a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern District of New York. Lehman was Freddie Mac's counterparty in unsecured lending transactions due to mature on September 15, 2008 in which Lehman was to make principal payments to Freddie Mac totaling $1.2 billion plus accrued interest. Freddie Mac has not received these payments.
Tags: Chapter 11 Bankruptcy
Related URLs: FEDERAL HOME LOAN MORTGAGE CORP • LEHMAN BROTHERS HOLDINGS INC
2 total votes | Comments (0) | Created by steve on 2008-09-23 - Login to vote or comment!