Art Investment

Lehman Brothers did sell works from its collection

The company hopes to help out Lehman Brothers for work from his collection of at least 8 million dollars. This will help her pay a portion of its huge debt

A few weeks ago ARTinvestment.RU told that bankrupt U.S. bank Lehman Brothers is going to sell a part his collection of works of art . Works at a cost of 8 million dollars are currently in storage. Previously, representatives of Lehman could not just take them and sell: the company is late in paying people who have followed the safety of products. But on 3 December the Court of the United States Bankruptcy decided that Lehman Brothers can now be paying them 20 thousand dollars to get out of work and begin to look at their customers.

Lehman bankruptcy was the largest in U.S. history. The duty of the company is 613 billion dollars. Works of art it sells, to pay his creditors. That managed to win back in court - only a small part of the collection Lehman: aware that the collection consists of about three and a half thousand works .

It should be recalled that recently the former head of Lehman, Richard tail Jr. (Richard Fuld, Jr.) and his wife, Kathy put in the Christie's auction of graphic works of American artists . The drawings, which are estimated at 15-20 million dollars, yielded 13.5 million .

Material prepared Yulia Maksimova

Source: guardian.co . uk , artinvestment.ru


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