Minn. Agency Fights Lehman Ch. 11 Plan

Law360, New York (July 2, 2010, 1:30 PM EDT) -- The Minnesota State Board of Investment has objected to Lehman Brothers Holdings Inc.'s Chapter 11 plan and disclosure statement, taking issue with the erstwhile investment giant's decision not to substantively consolidate its bankruptcy estates.

The MSBI filed a motion in the U.S. Bankruptcy Court for the Southern District of New York on Thursday to join the objection of an ad hoc group of creditors with claims totaling about $15.5 billion against LBHI.

In its April 14 disclosure statement, LBHI revealed that its unsecured creditors would receive...
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