Lehman's collapse
October 7, 2009
Among the largest creditors in Germany are the BdB banking industry association and Deutsche Bank, the paper said, citing figures from Epiq Systems, which is responsible for preparing claims to be submitted to a bankruptcy court in New York.
The BdB is seeking $25.7 billion and Deutsche Bank $6.3 billion, according to the report. Meanwhile Germany's central bank, the Bundesbank, is also claiming $10.4 billion from Lehman.
The BdB's claims derive from institutional investors such as German cities and municipal utilities, the newspaper reported, citing unnamed finance industry sources.
Years of litigation ahead
Sorting out the various claims on Lehman's remaining assets will be a complex process, lawyers told Handelsblatt.
"The proceedings will take years," finance lawyer Michael Ruetzel from the law firm White & Case told the newspaper. Ruetzel's firm represents several German state-owned savings banks that have claims against Lehman.
Lehman's collapse on September 15, 2008 set off a global financial crisis and imposed severe strains on many creditor banks.
At the time, Lehman was carrying $613 billion worth of debt and had assets of $639 billion.
bn/AFP/dpa
Editor: Sam Edmonds