New Lehman Plan Ups Unsecured Creditors' Recovery

Law360, New York (January 26, 2011, 2:27 PM EST) -- Bankrupt financial services behemoth Lehman Brothers Holdings Inc. has filed a new reorganization plan with the support of unsecured creditors that boosts the estimated recovery for unsecured claims and makes numerous other changes to estimated recoveries.

The revised plan increases the estimated recovery for Class 3 senior unsecured claims from 17.4 percent to 21.4 percent, among other changes to estimated recoveries, according to the first amended Chapter 11 reorganization plan Lehman filed late Tuesday in the U.S. Bankruptcy Court for the Southern District of New York....
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