An analysis by Lehman Brothers Holdings Inc.’s restructuring professionals shows the company’s emergency bankruptcy filing could have eliminated up to $75 billion in potential value for its creditors, The Wall Street Journal reported Monday.

Had Lehman Brothers been able to pursue a more orderly filing – including the sale of assets prior to filing for bankruptcy protection—the bank might have had time to sort out its derivatives portfolio and a maintained some value, the Journal reported from an analysis by Alvarez & Marsal, the bankruptcy advisers.

Losses through derivatives alone could cost creditors up to $50 billion, the Journal reported.

The Journal reported it is too soon to know how much money the company’s creditors will recover through bankruptcy proceedings. Unsecured creditors of the failed brokerage have said in court filings they are owed $200 billion.

The Journal reported that creditors might only recover 10 cents on the dollar – or about $20 billion – given the current bond market.

The disorderly bankruptcy filing also pushed down the value of other Lehman Brothers assets, hurting recovery efforts, the analysts told the paper.

Lehman Brothers tried and failed to get a government rescue. When the bank filed for bankruptcy protection, it triggered a panic on Wall Street that led to bailouts of American International Group Inc. (NYSE: AIG). Other banks have collapsed or been sold in the wake of the credit crisis.