The Latest On Lehman Brothers

Law360, New York (April 21, 2010, 12:33 PM EDT) -- On April 14, 2010, Lehman Brothers Holdings Inc. (“LBHI”) and its affiliates that are in Chapter 11 (collectively, the “Lehman Debtors”)[1] filed their revised joint Chapter 11 plan (“Lehman Plan”) and accompanying disclosure statement (“Lehman Disclosure Statement”), which sets forth estimates of creditor recoveries.

Previously, on March 15, 2010, the Lehman Debtors had filed a placeholder plan to preserve exclusivity,[2] but such plan was not accompanied by a disclosure statement and unsecured creditors were left in the dark as to estimated recoveries.

The Lehman Plan proposes...
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