Lehman Brothers Holdings Inc. has left its mouthpiece speechless.
Among its growing list of unsecured creditors in line for billions of dollars is now one owed $400,000, Kekst & Co., the corporate and financial communications firm that helped Lehman let the world know it failed.
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According to the New York Post, Lehman was expected to pay the PR firm for its services, including its past due bills, four days before it filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York in Manhattan on Sept. 15. But because of the imminent bankruptcy filing, Lehman never made the payment.
Considering the billions of dollars at stake -- Lehman listed $639 billion in assets and $613 billion in liabilities in its bankruptcy petition -- and frantic negotiations with Bank of America Corp. and Barclays plc to save the company at the eleventh hour, it's easy to see how $400,000 may have slipped below Lehman's radar screen.
And if you have to forget someone, why not your PR firm? It's not like liquidating Lehman is going to need good press anymore. - Jamie Mason
Jamie Mason is a bankruptcy reporter for The Deal.
