ANZ among lesser Lehman creditors 16 September 2008 6:37am ANZ...

ANZ among lesser Lehman creditors
16 September 2008 6:37am

ANZ managed to make itself into the list of the top thirty unsecured creditors of Lehman Brothers Holdings Inc, which filed for bankruptcy protection in the US yesterday afternoon, Australian time.

Lehman, somewhat surprisingly, opted for the “chapter 11” route that caters to the reorganisation and even the potential recovery of the firm.

ANZ’s two unsecured loans and one letter of credit add to just US$82 million, which is chicken feed by the standards of Lehman’s largest creditor.

That honour belongs to Citigroup, owed approximately US$138 billion according to Lehman’s bankruptcy petition.

The Bank of New York Mellon Corp is second, owed around US$17 billion, followed by a number of Japanese and European banks (including Azoro, BNP, Mizuho, Sumitomo Mitsubishi and UFJ), though each of these is owed only several hundred million each.

National Australia Bank scrapes into the list of Lehman’s top unsecured creditors with a letter of credit for US$10 million.

Lehman has not, yet, published any details on secured creditors.