Lehman Brothers sues Intel over a billion dollar deal Bankrupt investment firm Lehman Brothers is suing Intel over accusations that it had seized $1bn in collateral in breach of a swap agreement. The bank synonymous with the global financial meltdown told New York's bankruptcy court in a filing that Intel had taken more than its fair share out of its subsidiary Lehman Brothers …
The company as-was no longer exists.
instead, this is presumable the administrators winding up the company (receiver in UK terms) trying to collect as much remaining cash as they can so that all of the other out-of-pocket creditors get a little bit more of their money back, even if this is still less than 100%. As such, not "poor Lehmans" but "poor bondholders who lent money to Lehmans that they will only get a small fraction of get back".
These are the same wankers as all the other corporate finance Pump and Dump scam artists (Goldman Sachs et al).
So they got burned? Fuck em.
They've screwed millions of real people over during their lifetime. Maybe Karma is trying to teach their fettered remains a lesson.
That was the smartest move that Intel or anyone else could make. They grabbed their money before the receivers or lawyers could.
A wise man once said "Possession is 9/10 of the law" and nothing could be closer to the truth here.
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