Disney calls for Lehman inquiry

Walt Disney has become the latest company to call for an investigation into the dealings of investment bank Lehman Brothers before its collapse.

Disney says it is owed $92m (£56.5m) and wants to know how money was moved between Lehman Brothers Commercial and its parent company before bankruptcy.

US court papers filed by Disney called for an examiner to be appointed to investigate the transactions.

Lehman Brothers Holdings filed for bankruptcy protection on 15 September.

It was the largest US bankruptcy filing in history and saw what was the US's fourth-largest investment bank agree to sell many of its assets.

"When creditors lose money, they deserve to know why and how," said Martin Bienenstock, Disney's lawyer.

He added that the appointment of an examiner was common practice in big cases.

Disney's request for an examiner will be heard on 5 November.

Other Lehman creditors have made similar petitions to conduct investigations, including several investment funds under the Harbinger name.

The funds claim they are owed more than $250m and have requested to see internal documents about asset transfers a month before Lehman filed for bankruptcy.



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