Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Lehman Brothers $318 billion in NOLS under Chapter 11 Fresh Start Accounting:

https://www.pwc.com/us/en/services/deals/capital-markets/bankruptcy-reporting.html

*****

Lehman Brothers historical asset value = $620 Billion

Lehman Brothers liabilities subject to compromise = $250 Billion

Lehman Brothers Successor Fresh Start asset value = $50 Billion

*****

Math:

$620 B - $570 B Fresh start valuation adjustment = $50 B Lehman Brothers Successor Fresh Start asset value

$570 B - ($250 B Gain on Settlement on liabilities subject to compromise + $2 Professional Fees) = $318 NOLS

Note: Fresh start accounting requires the Lehman Brothers Reorganized Debtors to be insolvent on September 15, 2008 and old equity must own less than 50% of Successors new equity.