Lehman Brothers Holdings Inc. (LBHI) and its affiliated U.S. chapter 11 debtors (the “Debtors”) filed a joint plan with the Bankruptcy Court on March 15, the last day on which the Debtors who filed petitions on September 15, 2008, had the exclusive right to file a plan. As a result of the filing, the Debtors have an additional 60 days during which no other party may file a plan.
USA, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Debtor, Unsecured debt, Interest, Liquidation, Exclusive right, Secured loan, US Congress, Lehman Brothers, United States bankruptcy court
In a recent case1, the High Court concluded that it was right to sanction schemes of arrangement which formed part of a wider debt restructuring that excluded out-of-the-money junior creditors. In doing so, it valued the distressed companies on a going concern basis.
Background
United Kingdom, Insolvency & Restructuring, Litigation, Mayer Brown, Interest, Debt, Economy, Leveraged buyout, Valuation (finance), Debt restructuring, Discounted cash flow, Credit crunch