Global Lehman Admins To Share Bankruptcy Info

Law360, New York (May 26, 2009, 12:00 AM EDT) -- Court-appointed administrators overseeing Lehman Brothers Holdings Inc.'s global bankruptcy proceedings have signed a multilateral agreement allowing them to share information and coordinate the insolvency process as the financial services firm wends its way through more than 75 distinct bankruptcy filings.

Administrators and trustees in the U.S., Germany, Australia, Hong Kong and Singapore signed the Lehman Protocol on May 12, aiming to create a framework to "minimize the costs and maximize the recoveries" of Lehman's creditors across multiple jurisdictions, the company announced on Tuesday.

With no statutory...
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