Judge OKs Lehman's Bulk Objection Procedures

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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.