The Hong Kong-based liquidators of Lehman Brothers' Asian operations have sold $620m of the failed investment bank's portfolio of loans, bonds and equity positions in the region.
The transactions, which achieved an average recovery rate of 100 per cent, represent the first major disposals from the $2.6bn “principal investments and loans” portfolio built up by Lehman.
The sales are likely to provide some comfort to Lehman's creditors, who had worried about the ability of liquidators to dispose of assets without taking big losses.
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