CalPERS Plan Seeks More Cash For Lehman Bondholders

Law360 (April 28, 2011, 3:09 PM EDT) -- Lehman Brothers Holdings Inc.'s ad hoc creditors group lodged a new Chapter 11 plan for the firm's liquidation Wednesday that would give all holders of senior unsecured claims a payment boost over the group's original plan.

The creditors group, led by Paulson & Co. Inc. and the California Public Employees’ Retirement System, calls for senior bondholders to recover 25.4 percent of their claims, up from the 24.5 percent recovery the group proposed in December and towering above the 21.4 percent offered in the debtors' own plan...
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