Disney Goes After Lehman Brothers
Posted By: Julia Boorstin
CNBC
October 21, 2008
Not even the :Mouse House" is immune from fallout from the credit crunch and Wall Street's financial crisis. On Monday the Walt Disney Company became the latest of Lehman Brothers Holdings creditors to demand investigation into the goings-on at the bank leading up to its collapse.
The media giant's filing in U.S. Bankruptcy Court says the investment bank's bankruptcy "gives rise to many important questions," calling on the judge to appoint an examiner for an investigation. Disney says it's owed $92 million from a currency exchange from the day the holding company filed for Chapter 11.
The attorney representing Disney in the case, Martin Bienenstock, weighed in, saying "When creditors lose money, they deserve to know why and how." But Disney's pr wouldn't comment, noting that the company is in a quiet period ahead of its November 6 earnings announcement.
http://www.cnbc.com/id/27298377