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Goldman Sachs, Others File 3rd Lehman Ch. 11 Plan

Law360 (April 25, 2011, 4:03 PM EDT) -- A group of Lehman Brothers Holdings Inc. creditors including Goldman Sachs International, Deutsche Bank AG and Morgan Stanley & Co. International PLC on Monday filed a third prospective reorganization plan for the bankrupt investment bank.

The proposed plan, which would compete with plans filed by LBHI and an ad hoc creditors group that includes the California Public Employees' Retirement System, would emphasize nonconsolidation of the various Lehman debtors and foreign affiliates, according to documents filed in New York bankruptcy court.

“Substantive consolidation is a remedy for...
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