Lehman Exit Vindicates Ch. 11 Process, Experts Say

Law360, New York (March 7, 2012, 8:20 PM EST) -- Lehman Brothers Holdings Inc.'s historic emergence Tuesday from what a judge dubbed “the most impossibly challenging international bankruptcy that ever was” vindicates a Chapter 11 filing that many once rued as a failure of the government to step in, experts said.

U.S. Bankruptcy Judge James M. Peck described the case — the largest bankruptcy in U.S. history — in those lofty terms during an emotional Dec. 6 hearing at which he blessed the monumental plan, which will likely come to epitomize success in bankruptcy as much...
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