Bankruptcy of Lehman ends

THE RECORD $639bn (£406.8bn) bankruptcy of Lehman Brothers ended yesterday, clearing the way for it to start distributing about $65bn to creditors starting on 17 April, court documents show.

Lehman has said that it expects that first group of payments to creditors to be at least $10bn.

Lehman, now a small fraction of its former size, collapsed on 15 September 2008 with $639bn in assets, acting as a catalyst for the financial crisis. The legal end to the case enables Lehman to start paying back its creditors.