Lehman Creditors Ask Court To Reconsider DIP Loan

Law360, New York (September 30, 2008, 12:00 AM EDT) -- The official committee of unsecured creditors in the Lehman Brothers Holdings Inc. bankruptcy has asked the court to reconsider an interim order issued last month allowing the company to borrow some $200 million from Barclays PLC.

In light of the subsequent $1.75 billion sale of Lehman's U.S. investment banking business to Barclays, the creditors' committee said, the debtor-in-possession credit agreement was “no longer in the best interests of the debtor's estate.”

“The debtor's circumstances have changed dramatically since entry of the interim order,” the committee said...
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