Lehman Brothers Holdings Inc., the investment bank liquidating in bankruptcy, said it aims to recover $12 billion from real estate assets in the next five years, and another $17 billion from private equity and loans.
Lehman, which filed the biggest U.S. bankruptcy in September 2008, disclosed the updated figures in a filing with the U.S. Securities and Exchange Commission today. A bankruptcy judge on Thursday approved Lehman's plan to retain illiquid assets in a unit called Lamco for as long as five years before selling them.
Lehman said it plans to sell its Aurora and Woodlands banks eventually. It has been adding capital to the banks to prop them up.