Lehman Japan files for bankruptcy

Thailand News.Net
Tuesday 16th September, 2008

Lehman Brothers Japan Inc. has filed for bankruptcy protection with the Tokyo District Court following a failure of its parent firm in the US.

The Tokyo Stock Exchange announced it would halt all trading and futures trading of Lehman shares from Tuesday.

Lehman Brothers Japan will be required to initially suspend operations for 12 days.

In order to prevent Lehman assets being transferred offshore, the FSA has also Lehman Japan to hold assets worth about 1.2 trillion yen within the country, to protect Japanese investors.

Have your say on this story