Lehman Brothers Sharpens SunCal Reorganization Plan

Law360, New York (October 19, 2009, 6:52 PM EDT) -- Lehman Brothers Holdings Inc. has amended its plan to restructure SunCal Cos. foundering properties, after gaining permission from the bankruptcy court to pay $15 million in potential settlements as part of the proposed reorganization of the $2 billion projects Lehman bankrolled.

On Friday, Lehman notified the U.S. Bankruptcy Court for the Southern District of New York of the amended proposed plan of reorganization to rival the one by a SunCal affiliate that seeks to prevent Lehman from pocketing the 18 properties worth some $600 million....
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