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
After a relatively brief and checkered stint in Delaware courts, it appears that the cause of action against corporate directors for “deepening insolvency” may have lost its place in Delaware corporate jurisprudence.
USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Katten Muchin Rosenman LLP, Shareholder, Breach of contract, Fraud, Fiduciary, Federal Reporter, Debt, Liquidation, Good faith, Due diligence, Business judgement rule, Delaware Supreme Court, Third Circuit