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In Case You Missed It: Attorney Chip Bowles comments on Lehman Brothers in recent Bloomberg article
Posted in Litigation

In case you missed it, Bingham Greenebaum Doll LLP attorney Chip Bowles was recently quoted in a Bloomberg Businessweek article that reported on Lehman Brothers Holdings Inc.’s efforts to come out of bankruptcy. In 2008, Lehman Brothers became responsible for the largest bankruptcy filing to ever take place in the U.S.

Now a mere shadow of the company that it had become, the article states that Lehman Brothers is working to generate as much money as possible to pay off former clients, creditors and trading partners. The report notes one key difference between Lehman Brothers and a similar high-profile bankruptcy case, though.

An excerpt of the article, including Chip Bowles’ comments, is below. Visit Bloomberg Businessweek’s website to read the full article.

Excerpt from “Lehman Unloads Uranium and Real Estate to Pay Creditors”

One difference between Enron and Lehman is that no former Lehman top executives, including CEO Richard Fuld, have been charged with any criminal behavior. The bank operated within accounting rules allowed at the time, according to its auditor, Ernst & Young.

“Usually you get more money out of people who allegedly aided real crooks than from people with bad business judgment,” says bankruptcy lawyer Chip Bowles of Bingham Greenebaum Doll in Louisville. “In Lehman’s case, executives skated within the law.”

  • In Memoriam

    1959-2017 IN MEMORIAM

    Claude R. "Chip" Bowles Jr passed away on April 18, 2017.

    Chip was an incredibly smart and hardworking attorney who exhibited a conscientious and vigorous commitment to client service. Chip was also a man with a ...

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