Lehman Brothers files for Chapter 11 protection
Lehman Brothers, a 158-year-old investment bank choked by the credit
crisis and falling real estate values, filed for Chapter 11 protection
in the biggest bankruptcy filing ever on Monday and said it was trying
to sell off key business units.
The filing was made in the U.S.
Bankruptcy Court in the Southern District of New York by Lehman
Brothers Holdings Inc., the bank's holding company.