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German Lehman Bros. Affiliate Files For Ch. 15

Law360 (April 29, 2009, 12:00 AM EDT) -- The insolvency administrator overseeing the restructuring of a German affiliate of Lehman Brothers Holdings Inc. has petitioned a federal bankruptcy court for protection of the investment firm’s assets in the United States.

Lehman Brothers Bankhaus AG filed for Chapter 15 bankruptcy protection on Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, seeking recognition of its foreign proceedings.

The Frankfurt-based company listed over $1 billion in assets and liabilities.

Dr. Michael C. Frege, the insolvency administrator overseeing Bankhaus’ proceedings in Germany, initiated...
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