Lehman Brothers International
|Lehman Brothers International|
|Based in||New York, London, Tokyo|
|Active in||South Wales, Australia, Indonesia|
|Targeted||base metals, coal, energy fuels, precious metals, gold|
Lehman Brothers International, based in New York, London and Tokyo, was a major global investment bank, until it became the first (and perhaps most spectacular) victims (and engineers) of the sub-prime mortgage collapses of September 2008. That year it held 6.94% of Nufcor Uranium Ltd (see QVT) [Hemscott 13 February 2008]; and 3.05% of Central African Mining & Exploration PLC (Camec) – see Capital Group Companies.
Lehmann Brother International (Europe) in 2007 held 5% of Energybuild Group plc, an open-cast coal mining company operating in South Wales (see Cambrian Mining PLC); as of early 2008, it was the fourth biggest shareholder (at 5.09%) in European Nickel plc (see Prudential PLC), and held 3.51% in Lonrho Plc.
Following a filing by Lehman Brothers Commercial Corp for bankruptcy in October 2008, the Western Australian gold miner, Norton Gold Fields, stopped delivering gold into the bank's hedge fund facility. Lehmann Brothers' took the matter to the US Bankruptcy court and, in July 2010, the two parties agree that the hedge would be replaced with an upfront payment of US$8.7 million,and the issuing of a senior secured note for Aus$97 million to Lehman, to be repaid in four years [MJ 23 July 2010].
In 2011, Lehman Brothers Bankhaus AG was identified as holding 3.52% of Churchill Mining plc, which has four major thermal coal mining leases in East Kalimantan, Indonesia (see Pala Investment Holdings).