views

Lehman documents made public

Undisclosed documents used to contribute to the 2,200-page report on the crash of Lehman Brothers were yesterday made public by US bankruptcy judge James Peck. The report by Anton Valukas, the court appointed examiner, showed that Goldman Sachs, Barclays and DRW Trading of Chicago took over the US futures and options trades of Lehman Brothers 2008 bankruptcy. The identity of the parties has been kept anonymous until yesterday despite efforts made by CME Group to keep them out of the public’s hands. The report stirred up controversy among the financial services community last month in New York and London, after it named accounting giant Ernst & Young and law firm Linklaters for their roles advising the bank. The report said that Lehman used “Repo 105” transactions to move debt off its balance sheet.