Wed Mar 16, 2011 7:07pm EDT
Lehman targets November 17 to win bankruptcy plan OK
By Jonathan STEMPEL:
"(Reuters) - Lehman Brothers Holdings Inc (LEHMQ.PK) said it hopes to win court approval of its reorganization plan in mid-November, more than three years after filing the largest bankruptcy in U.S. history.
Creditors would vote on LEHMAN's Chapter 11 plan by October 14, with a confirmation hearing to follow on November 17, Lehman proposed in a Wednesday filing with the U.S. bankruptcy court in Manhattan.
Once the fourth-largest U.S. bank, Lehman has been selling and winding down assets to repay creditors.
In January, it submitted a revised reorganization plan that offered bondholders more money. - The previous month, a bondholder group that includes the Paulson & Co hedge fund and the California Public Employees Retirement System pension fund proposed a competing plan.
Lehman's revised plan would repay creditors roughly $60.1 billion, equal to about 18.6 cents on the dollar based on an estimated $322 billion of valid claims.
Goldman SACHS Group Inc (GS.N) is part of a creditor group that may file a third proposed plan"...
SOURCE / LINK / QUELLE dieses Ausschnitts:
www.reuters.com/article/2011/03/16/...mp;feedName=businessNews
Lehman targets November 17 to win bankruptcy plan OK
By Jonathan STEMPEL:
"(Reuters) - Lehman Brothers Holdings Inc (LEHMQ.PK) said it hopes to win court approval of its reorganization plan in mid-November, more than three years after filing the largest bankruptcy in U.S. history.
Creditors would vote on LEHMAN's Chapter 11 plan by October 14, with a confirmation hearing to follow on November 17, Lehman proposed in a Wednesday filing with the U.S. bankruptcy court in Manhattan.
Once the fourth-largest U.S. bank, Lehman has been selling and winding down assets to repay creditors.
In January, it submitted a revised reorganization plan that offered bondholders more money. - The previous month, a bondholder group that includes the Paulson & Co hedge fund and the California Public Employees Retirement System pension fund proposed a competing plan.
Lehman's revised plan would repay creditors roughly $60.1 billion, equal to about 18.6 cents on the dollar based on an estimated $322 billion of valid claims.
Goldman SACHS Group Inc (GS.N) is part of a creditor group that may file a third proposed plan"...
SOURCE / LINK / QUELLE dieses Ausschnitts:
www.reuters.com/article/2011/03/16/...mp;feedName=businessNews
Den Vorhang AUF, der Krimi geht weiter...