Posted by: rbbadger | September 18, 2008

Lehman Brothers Seoul

The Financial Services Commission (금융위원회) of the Republic of Korea has ordered an immediate halt to all of Lehman Brother’s business here.  Until December 15, the Korean branch of the Lehman Brothers firm has been banned from paying its debts, trying to sell its property, remitting cash, or relocating its Korean assets.  You can read about that here.

Just when you thought there couldn’t be a worse corporate bankruptcy than Enron, there is one in place now.  The Japanese government has additionally suspended Lehman Brothers from doing any business for two weeks.  Additionally, Lehman Brothers (Hong Kong), Ltd. has informed their shareholders that they are no longer doing any business on the Hong Kong stock exchange.

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