3rd Lehman Reorganization Plan In The Works

Law360, New York (April 7, 2011, 12:58 PM EDT) -- Noteholders of a Dutch affiliate of Lehman Brothers Holdings Inc. indicated Wednesday that they're considering a third proposed reorganization plan for the bankrupt investment bank, while the government objected to proposed discovery rules in the New York bankruptcy proceeding.

The contemplated plan — which, if filed, would be the third competing Lehman reorganization plan — would emphasize nonconsolidation of the various Lehman debtors and foreign affiliates, according to a statement filed Tuesday by noteholders of the Dutch affiliate in the U.S. Bankruptcy Court for the Southern...
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