Lehman Brothers plans to sell works of art worth 8 million dollars from his collection. This is necessary in order to pay his creditors

According to Bloomberg.com , representatives Lehman Brothers Holding Inc. stated that the company is going to sell some works of art from his collection. The total cost of these works is 8 million dollars. Now they are in storage in Paris and New York.

As you know, the bank Lehman Brothers burst on 15 September. This was the largest bankruptcy in U.S. history. Debts holding company of Lehman Brothers amounted to 613 billion dollars, and now it seeks to repay at least part of them. November 10, representatives of Lehman asked the court to allow them to pay 20 thousand dollars to employees who are engaged in the transport of works of art, and monitor their safety. This is necessary so that work could be taken out of storage and show them to potential buyers. In the Lehman call the court because they have to charge overdue. December 3, in the Court of the United States will be a bankruptcy hearing at which it is decided whether the company pay to the employees.

In addition to works in storage at Lehman also has paintings, sculptures and graphic works that adorn the offices of the company. The next day, after the collapse of British bank holding company Barclays PLC announced its decision to acquire the assets of Lehman Brothers, including the headquarters in Manhattan. Barclays has the right of first refusal on works of art that are in this building.

«This is what is bad in the possession of the corporate assembly, - said Arthur Goldberg (Arthur Goldberg), a collector and a former partner at Neuberger Berman, which Lehman bought in 2003. - When things are not very good, [the collection . - Ed. ] is beginning to change hands and sold as asset ».

ARTinvestment.RU already wrote that the corporate collection Lehman Brothers has about 3 500 works . The former head of the company themselves were inveterate collectors: for example, Robert Lehman (Robert Lehman) assembled one of the most amazing collections in America and bequeathed 3 thousands of New York Metropolitan Museum. Latest Lehman Brothers head Richard tail (Richard Fuld) and his wife, Kathy (Kathy Fuld) also loved art. Kathy tail is considered one of the major collectors in the world of graphics. Recently, 16 works from its collection, including pictures Willem de Kuninga (Willem de Kooning), Arshila Gorky (Arshile Gorky) and Barnett Newman (Barnett Newman) went under the hammer at auction Christie's . All graphics work was estimated at 15-20 million dollars, but had «total» 13,5. However, the upset in this case is no tail, and the house Christie's, which even before the crisis, gave figures of great assurance.

Material prepared Yulia Maksimova

Sources: bloomberg.com , uk.news.yahoo.com , artinvestment.ru