Bonuses paid to Lehman executives are at risk, lawyers say.
So $5.7 billion worth of bonuses were paid a year before Lehman Brothers filed for the biggest bankruptcy in history. And that raises the question whether the money was paid out when the company was dangerously undercapitalised. Which could amount to a fraudulent transfer.
As Bloomberg informs us, Lehman Brothers compensation claim spending rose 9.5% to $9.5 billion last year. And up to 10,000 staff at Lehman Brothers New York office will share a bonus pool set aside for them that is worth $2.5 billion, reports The Independent.
Bonuses for what?? It shows how perverse the Wall Street culture is.