Lehmans emerges from bankruptcy

Lehman Brothers has emerged from bankruptcy and is now a liquidating company that will begin the process of paying back its creditors and investors before finally being wound up.

The one-time financial behemoth will start distributing what it expects to be a total of about $65bn to creditors on April 17, it said in a statement. Lehmans has previously stated that first group of payments to creditors will be at least $10bn. The collapse of Lehmans in 2008 is regarded by many as the height of the 2008 financial crisis. Then, almost 1,300 days ago, Lehman Brothers Holdings Inc filed its record $639m bankruptcy, its businesses around the world collapsed, and investors from the smallest towns to the largest pension funds lost money.