Lehman pledges to extract $12M from real estate assets

Lehman Brothers plans to recover $12 billion from its real estate assets in five years, as it liquidates much of its holdings in bankruptcy, according to Bloomberg news. The failed investment bank will hold on to certain illiquid assets, per a bankruptcy judge’s approval on April 15, with plans to sell them within the next five years. Lehman also said it will recover approximately $17 billion in private equity assets during the same time period.