NEW YORK, Feb 19 (Reuters) - The judge overseeing the bankruptcy of failed U.S. investment bank Lehman Brothers Holdings Inc approved on Thursday the plan under which the independent examiner will look into Lehman's collapse, with a final report expected in 9 months.
The U.S. Trustee previously appointed examiner Anton Valukas to examine and report on issues including how Lehman pursued the sale of key assets and look for any evidence of fraud, dishonesty or misconduct.
The examiner, who has already met with the debtors and other parties involved in the bankruptcy, said in court documents that if the report is able to be prepared within 9 months, fees would total $23 million.
Valukas also said he plans to hire Duff & Phelps as an advisory firm. He said the report may be delayed if there are issues in attaining documents. He plans to interview and depose 100 or more witnesses, issuing subpoenas when needed and will provide reports as the court requires.
Judge James M. Peck approved the work plan in an order.
(Reporting by Caroline Humer; Editing by Phil Berlowitz) Keywords: LEHMAN (Reuters Messaging: caroline.humer.reuters.com@reuters.net; email: caroline.humer@thomsonreuters.com; Tel: 1 646 223 6181) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The U.S. Trustee previously appointed examiner Anton Valukas to examine and report on issues including how Lehman pursued the sale of key assets and look for any evidence of fraud, dishonesty or misconduct.
The examiner, who has already met with the debtors and other parties involved in the bankruptcy, said in court documents that if the report is able to be prepared within 9 months, fees would total $23 million.
Valukas also said he plans to hire Duff & Phelps as an advisory firm. He said the report may be delayed if there are issues in attaining documents. He plans to interview and depose 100 or more witnesses, issuing subpoenas when needed and will provide reports as the court requires.
Judge James M. Peck approved the work plan in an order.
(Reporting by Caroline Humer; Editing by Phil Berlowitz) Keywords: LEHMAN (Reuters Messaging: caroline.humer.reuters.com@reuters.net; email: caroline.humer@thomsonreuters.com; Tel: 1 646 223 6181) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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