Belgian banks seek millions from Lehman bankruptcy

28th September 2009, Comments 0 comments

Belgian creditors of failed Wall Street investment bank Lehman Brothers have demanded USD 700 million (EUR 480 million) from its administrator, local news media reported on Saturday.

The five largest Lehman creditors in Belgium are Dexia bank at USD 354.2 million, ING Belgium at 125.2 million, Fortis at 99.5 million, KBC at 81.1 million and Axa Belgium at 23.3 million, the Echo and De Tijd newspapers said.

Others include energy firm Electrabel and financial cooperative Swift, as well as religious congregations and charitable organisations.

The deadline for claims set by the US bankruptcy court was 22 September, more than a year after the shock failure of Lehman Brothers.

Lehman's collapse sowed panic in boardrooms, government offices and households around the world and has come to symbolise the beginning of a steep slump that plunged the global economy into recession.


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