Lehman Ch. 11 Plan Faces Objections Over Lack Of Info

Law360, New York (August 11, 2011, 10:25 PM EDT) -- Lehman Brothers Holdings Inc. faced a flurry of objections to its bankruptcy plan on Thursday from a number of parties that said the fallen investment giant's disclosure statement was severely lacking in vital information for creditors.

On Aug. 30, U.S. Bankruptcy Judge James Peck will rule on the disclosure statement and decide whether to send the plan to LBHI's creditors for approval.

But U.S. Trustee Tracy Hope Davis identified 23 “informational deficiencies” in LBHI's disclosure statement, including a lack of information on the company's planned liquidation...
To view the full article, register now.