Lehman Forges Ch. 11 Pact With Key Creditors

Law360, New York (July 1, 2011, 1:46 PM EDT) -- Lehman Brothers Holdings Inc. announced Friday that creditors holding more than $100 billion in claims had rallied in support of its latest reorganization plan, marking a significant advance in the epic bankruptcy.

Thirty of Lehman's heftiest creditors have signed on to the debtor's second amended Chapter 11 plan and given the plan priority over two competing proposals, all but ensuring a successful conclusion to the bankruptcy case.

"We are proud to have negotiated a global settlement that has the support of Lehman's largest foreign and domestic...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.