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

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Brookfield Asset Management Inc    BAM.A   CA1125851040

SummaryChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Nine years on, another Lehman Brothers bankruptcy

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/01/2017 | 10:22pm CET
FILE PHOTO: Lehman Brothers name moves across a news ticker in New York's Times Square

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BROOKFIELD ASSET MANAGEMEN
12/07 TSX gains in broad rally led by financials, energy stocks
12/06 EQUINOX PAYMENTS : Enables Merchants to Tap Into Chinese Tourists’ Spendin..
12/05 BROOKFIELD ASSET MANAGEMENT : Announces Reset Dividend Rate on Its Series 30 and..
12/04 BROOKFIELD ASSET MANAGEMENT : Announces Reset Dividend Rate on Its Series 30 and..
11/29 BROOKFIELD ASSET MANAGEMENT : ex-dividend day
11/27 GGP : mulls over $14.8 billion bid
11/17DJBROOKFIELD ASSET MANAGEMENT : A Global Real-Estate Giant Whispers 'We're Number ..
11/14 BROOKFIELD ASSET MANAGEMENT : Closes $3 Billion U.S. Commercial Real Estate Fina..
11/14 Brookfield Closes $3 Billion U.S. Commercial Real Estate Finance Fund
11/14 DBRS Comments on Brookfield Property Partners L.P.'s Proposal to Acquire GGP ..
More news
News from SeekingAlpha
08:26a The Value Of Reliability And Why Omega Healthcare Is A Value Trap
12/11 GGP edges higher after reportedly rejecting Brookfield proposal
12/02 Brookfield Property Partners - Paying Too Much For GGP
12/01 Brave Enough To Bet Against Hedge Funds? Tanger Factory Outlet Centers And Th..
11/26 Renewable Distributions?
Financials ($)
Sales 2017 26 064 M
EBIT 2017 -
Net income 2017 -
Debt 2017 -
Yield 2017 1,28%
P/E ratio 2017 96,78
P/E ratio 2018 41,13
Capi. / Sales 2017 1,66x
Capi. / Sales 2018 1,86x
Capitalization 43 366 M
Chart BROOKFIELD ASSET MANAGEMEN
Duration : Period :
Brookfield Asset Managemen Technical Analysis Chart | BAM.A | CA1125851040 | 4-Traders
Technical analysis trends BROOKFIELD ASSET MANAGEMEN
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 41,8 $
Spread / Average Target -4,6%
EPS Revisions
Managers
NameTitle
James Bruce Flatt CEO, Director & Senior Managing Partner
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 & Senior Managing Partner
Sector and Competitors
1st jan.Capitalization (M$)
BROOKFIELD ASSET MANAGEMENT INC26.61%42 901
BLACKROCK35.46%82 111
UBS GROUP8.78%68 195
BANK OF NEW YORK MELLON (THE)14.44%56 348
STATE STREET CORP24.70%36 123
AMERIPRISE FINANCIAL, INC.53.11%24 820