Law360, New York (January 13, 2010, 7:11 PM EST) -- Lehman Brothers Holdings Inc. reportedly got a green light for streamlined objection procedures to help it deal with the 65,000-plus claims it faces, but the bankrupt financial giant's bid for authorization to settle claims of $5 million or less without further court approval has been put on the back burner until February.
Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York approved Lehman's proposed claims objection procedures on Wednesday, Reuters reported.
LBHI filed a Dec. 23 motion seeking the court's...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.