The Lehman Chapter 11 bankruptcy case represents the 'largest, most complex, multi-faceted and far-reaching bankruptcy case ever filed in the United States'. After the bankruptcy process completed, there was no further investigation of the Examiner's conclusions about the 'colorable' claims. This chapter explores the main issues cited for the cause of the bankruptcy and reasons why Mayer Lehman conducted its business without proper oversight. To hide the extent to which Lehman Brothers Holding Incorporated (LBHI) was leveraged, the company developed and used a version of Repo 105 and Repo 108 in 2001. But it used the device much more extensively in 2007 and 2008, as focus on the leverage ratios of investment banks increased. The Examiner appointed by the Bankruptcy Court found sufficient evidence to support that 'Lehman did not appropriately consider market-based yield when valuing Principal Transactions Group (PTG) assets in the second and third quarters of 2008.'