Lehman Brothers U.K., Lehman Pass-Through win exclusivity extension

By Caroline Salls

Pittsburgh, Dec. 21 – Lehman Brothers U.K. Holdings (Delaware), Inc. and Lehman Pass-Through Securities Inc. obtained an extension of their exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the debtors’ exclusive plan-filing period was extended through March 29 and the solicitation period through May 25.

According to the motion, the deadline for the filing of general claims against the debtors has passed, resulting in the filing of only three unscheduled claims, but governmental claims do not need to be filed until Feb. 27.

“An extension of the exclusive periods will permit the debtors to prosecute a plan with a complete understanding of the claims asserted against them – a critical element of their restructuring and necessary to have the support of all economically interested parties and maximize value,” the motion said.

Lehman Brothers U.K. Holdings (Delaware) and Lehman Pass-Through are affiliates of Lehman Brothers Holdings Inc. The affiliates’ Chapter 11 cases are being jointly administered under case number 17-12442. They filed for bankruptcy on Aug. 31.

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