Lehman Files Ch. 11 Plan, Will Launch New Branch

Law360, New York (March 15, 2010, 7:41 PM EDT) -- Lehman Brothers Holdings Inc. and its 22 affiliated Chapter 11 debtors on Monday filed a joint plan of reorganization, nudging the largest bankruptcy ever filed in the U.S. one step closer to resolution.

LBHI and its subsidiary debtors filed their reorganization plan in the U.S. Bankruptcy Court for the Southern District of New York 18 months after the firm's collapse heralded the global economic crisis. And the debtors concurrently filed a motion for authorization to launch a new asset management unit.

The plan provides for an...
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