BusinessInsider – Hedge funds and investment banks are trading Lehman bankruptcy claims. And it’s not just a matter of a couple of distressed debt funds buying the claims—it really looks like they are being actively traded.
Credit Suisse, for instance, bought a $423 million claim from Citadel recently. And now it is looking to sell a $1 billion claim, according to Bloomberg.
We’re not quite sure how this market is working yet or how actively the claims are being traded. According to Bloomberg, Elliott Management, King Street Capital and Paulson & Co collectively have accumulated $13 billion of claims against Lehman. Silver Point Capital is also a buyer.
