Lehman Emerges From Landmark Ch. 11

Law360, New York (March 6, 2012, 3:16 PM EST) -- Lehman Brothers Holdings Inc. and its affiliates have emerged from their historic Chapter 11 and will begin tens of billions of dollars in distributions to creditors next month, the onetime financial giant announced Tuesday.

Tuesday marked the effective date of the Chapter 11 plan that U.S. Bankruptcy Judge James M. Peck approved Dec. 6. — a milestone that seemed far-fetched when the investment bank filed the largest bankruptcy in U.S. history in September 2008.

“Our objective remains to provide the best results possible for creditors —...
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.