Lehman Brothers Holdings Inc. collapsed more than six years ago, but the failed investment bank is still paying millions in bonuses to the team winding down its business, the Wall Street Journal reported today. Lehman, which officially emerged from chapter 11 nearly three years ago, paid out $44 million last year in bonuses to employees, according to a monthly operating report filed Friday with the U.S. Bankruptcy Court in New York. The bank paid out about $50 million in bonuses in 2013. Since exiting bankruptcy protection, the investment bank has remained in business, managing a large pool of assets and selling when it finds a good deal, rather than in a panic. This has resulted in greater-than-expected recovery for Lehman’s creditors. The bank’s estate has been selling off its real estate and its private-equity stakes as well as winding down its derivatives’ positions to pay back its creditors. Lehman, in its most recent estimate, said it expects to bring in $90.6 billion from asset sales to pay back creditors.
