Lawyers Face Dramatic Challenges On Wall Street

Law360, New York (September 12, 2008, 12:00 AM EDT) -- With Lehman Brothers Holdings filing for bankruptcy, Bank of America set to take over Merrill Lynch, and AIG about to announce a major restructuring, lawyers expect unprecedented legal challenges for their Wall Street clients.

Lehman Brothers said late Sunday night it would file for bankruptcy after talks directed by Federal Reserve officials produced no results.

"Lehman Brothers Holdings Inc. (“LBHI”) announced today that it intends to file a petition under Chapter 11 of the U.S. Bankruptcy Code with the United States Bankruptcy Court for the Southern...
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