A man loads his personal belongings into a cab after leaving Lehman Brothers International Europe's headquarters at Canary Wharf in London on Sept. 15, 2008. Photographer: Simon Dawson/Bloomberg News Sept. 18 (Bloomberg) -- Artworks by Takashi Murakami, Andreas Gursky and Jasper Johns are among the lesser-known assets in Lehman Brothers' meltdown.
Lehman Brothers Holdings Inc. owns about 3,500 contemporary artworks that have been displayed in the investment bank's offices around the world, and the fate of the collection is unclear.
Depending on Lehman's bankruptcy proceedings and whether portions of its businesses are acquired, some or all of the art may be sold. Lehman inherited a separate collection when it purchased money manager Neuberger Berman in 2003, and that art -- about 900 works -- is likely to belong to a new owner if Neuberger is sold.
``In these situations, you can't just sell things off willy nilly,'' art adviser Judith Selkowitz said of the collection. ``They want everything orderly.''
Randall Whitestone, a Lehman spokesman, declined to comment.
Lehman Brothers Holdings Inc. owns about 3,500 contemporary artworks that have been displayed in the investment bank's offices around the world, and the fate of the collection is unclear.
Depending on Lehman's bankruptcy proceedings and whether portions of its businesses are acquired, some or all of the art may be sold. Lehman inherited a separate collection when it purchased money manager Neuberger Berman in 2003, and that art -- about 900 works -- is likely to belong to a new owner if Neuberger is sold.
``In these situations, you can't just sell things off willy nilly,'' art adviser Judith Selkowitz said of the collection. ``They want everything orderly.''
Randall Whitestone, a Lehman spokesman, declined to comment.
More at Bloomberg.com.
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