LEHMAN BROTHERS FILES SECOND AMENDED PLAN IN CHAPTER 11 CASES

As summarized in our bulletin of January 25, 2011, the Debtors filed their initial plan on March 15, 2010 and their first amended plan on January 25, 2011 (the "First Amended Plan"). In addition, two alternative plans have been filed by certain large creditor constituencies in the chapter 11 cases: (i) a substantive consolidation plan first filed on December 25, 2010 and amended on April 27, 2011, as summarized in our bulletin of December 27, 2010 (the "Consolidation Plan") and (ii) a non-consolidation plan filed on April 25, 2011, as summarized in our bulletin of April 27, 2011 (the "Non-Con Plan," and with the Consolidation Plan, the "Alternative Plans"). Click here for more..