Lehman Brothers Holdings has exited bankruptcy and is due to make payments to creditors in late April this year. With over USD 600 billion in debt, the 2008 collapse was the biggest ever bankruptcy in US history and was pivotal in the global economic crisis.

Now, nearly four years on, Lehman's return to liquidity has been approved and the investment bank will continue to sell assets and make payments before finally closing down. Day to day operations will be largely unchanged, however the former investment banking giant can now sell assets without court approval.

There is now about USD 18 billion available, according to business news service Bloomberg, and in excess of USD 10 billion is expected to be distributed soon. Under CEO Bryan Marsal's plan, Lehman's creditors will eventually receive between 21 and 56 cents on the dollar. Senior bondholders at the lower end of the spectrum and commercial paper claims at the top end of the range, according to Bloomberg.

In 2008, UK bank Barclays has bought some of the core assets of US investment bank Lehman Brothers for USD 1.75 billion.

Liam Lever, liam@romania-insider.com