Lehman Says It Hopes To Exit Bankruptcy By 2011

Law360, New York (September 22, 2010, 6:23 PM EDT) -- Bankrupt Lehman Brothers Holdings Inc. announced Wednesday that it anticipates exiting bankruptcy protection by early 2011 but has struggled to reach deals over the restructuring of its foreign subsidiaries.

Current Lehman CEO and restructuring consultant Bryan Marsal told Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York the news during a "state of the estate" presentation, which served to update parties and the public on the status of the largest bankruptcy in history.

"There is momentum in the case to...
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