The largest US bank denied wrongdoing in agreeing to settle, and entered the settlement solely to eliminate the burden and cost of litigation
Lehman Brothers Holdings Inc said on Wednesday it plans to distribute about USD 14.2 billion to creditors early April, as the company winds down following its emergence last year from bankruptcy protection.
Lehman Brothers Holdings Inc said creditors holding more than USD 100 billion of claims now support its reorganization plan, moving the company closer to emerging from the largest-ever US bankruptcy.
Lehman Brothers Holdings Inc said it has received a wider base of support from creditors for its reorganization, and filed a new plan it hopes will help it emerge from bankruptcy and pay creditors faster.
Lehman Brothers Holdings Inc accused Goldman Sachs Group Inc of intentionally trying to delay providing documents related to a probe into market rumors, which may have sped up Lehman's collapse.
A group of creditors led by Goldman Sachs and Morgan Stanley proposed a restructuring plan for Lehman Brothers Holdings Inc that would boost recoveries for the banks and keep separate the assets of Lehman's bankrupt subsidiaries.
UBS AG was ordered by a US regulator to pay nearly USD 11 million to settle charges it misled customers about the safety of Lehman Brothers Holdings Inc debt before that bank went bankrupt.
Lehman Brothers Holdings Inc's hurried sale of much of its operations to Barclays Plc at the height of the financial crisis was fair, and its bankruptcy estate is not entitled to recover USD 11 billion windfall, a federal judge ruled.
Lehman Brothers Holdings is demanding that Bank of America return an additional USD 9 million on top of USD 500 million it has been ordered to repay by a bankruptcy judge.
Lehman Brothers Holdings Inc said it will take longer than expected to win approval of its bankruptcy reorganization plan as it tries to settle differences with creditors, who are owed well over USD 300 billion.