Lehman Plans to file Bankruptcy

By Abhishek on 11:55 AM

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Lehman Brothers Holdings Inc. said early Monday that it will file for Chapter 11 bankruptcy protection and continue business till it find suitable buyer for its Broking and Investment firms. The announcement came after a tensed weekend of negotiations in which potential acquirers Barclays Plc and Bank of America backed away from a deal. After denied by Barclays and Bank of America , only few options left for this 158 years old Investment firm.  

Lehman denied the market report that it is going to file a motion under US Federal Bankruptcy law ,,, and going to force Liquidate. It said they are going to file for Chapter 11 , Bankruptcy Protection  , and they will continue their business till they dint find suitable Buyer for their Broking and Investment Units and they will pay their employees.

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