Lehman Brothers is Buying Real Estate (in 2011)

While browsing financial headlines recently I was surprised to hear that Lehman Brothers is bidding on an apartment company, a bold move for a company that no longer exists. Ok, that sounds more dramatic than it really is (I should write financial headlines). The estate of Lehman brothers owns 47% of the company including a contractual right to buy out the rest, and claims that the other owners are selling it for too low a price. It only makes sense to maximize the assets of a bankrupt company and try to recover a bit more. But you have to wonder how long it will be until the estate of a bankrupt company makes a bad trade and goes bankrupt itself…