Results tagged “lehman brothers”
You Can Still Make A Killing
IN A NUTSHELL
Nicholas Pierpan's morality tale watches the Masters of the Universe struggle to move on with their feet of clay following the Lehman Bros collapse.
Canary Wharf Group has agreed to reduce its $4.5billion claim against Lehman Brothers according to documents filed in the Bankruptcy Court in New York.
The claim against the collapsed bank was filed in September 2009, but with little chance of recovering the full amount CWG has decided to reduce the figure it seeks to $780million.
JP Morgan has ended speculation about its move to Canary Wharf by announcing it has bought the former Lehman Brothers headquarters at 25 Bank Street.
The investment bank were supposed to be developing a new site for its European headquarters at Canary Riverside, but have opted to take on the Lehman Brothers site instead.
Last week it was announced Lehman Brothers' art collection would be put up for auction by Pricewater-houseCoopers at Christie's.
Although the £2million the administrator hopes to raise for creditors is a drop in the ocean compared to the billions owed, it raises the questions of what other pieces are hiding away in offices around Canary Wharf - and why?
Songbird Estates is looking to the future with confidence after seeing income levels rise during 2009.
The majority owners of Canary Wharf published its end of year accounts this morning, revealing a 7.6 per cent rise in it portfolio value, to £5billion, since June and a 10.7 per cent increase in its full-year rental income to £318.4million.