January 31, 2013

On January 31, Firm Chairman Anton R. Valukas, assisted by Partners Daniel R. Murray, Patrick J. Trostle, and Andrew J. Olejnik, taught three classes at Harvard Business School regarding the collapse of Lehman Brothers.  Their presentation focused on why Lehman Brothers failed, what could have been done differently, and why a Chapter 11 bankruptcy was a weak alternative for Lehman.  In particular, the team discussed leadership and risk, as well as the impact of the Bankruptcy Code’s safe harbor provisions on Lehman’s financial contracts.  The classes involved interactive discussion with the students and were part of a course taught by Professor Stuart Gilson at the Harvard Business School titled “Creating Value through Corporate Restructuring.”