The book value of Lehman's property exposure in Thailand alone is $1bn, while the bank's Hong Kong units racked up a further $1bn exposure with about 100 loans or direct real estate investments across the region.
The subsidiaries also made inter-company transfers worth $5bn to the bank's Japanese arm, which were invested in domestic property assets, while one Asian investment vehicle has a $500m position in Taiwan's landmark high-speed rail project
The disclosures were made during an exclusive Financial Times interview with KPMG, the professional services firm appointed by the Hong Kong courts in September to oversee the liquidation of the bank's local units.