Jan 13 (Reuters) - Lehman Brothers Holdings Inc:
* Lawyer says chapter 11 bankruptcy plan clearly will not be confirmed this
quarter - court hearing
* To file amended chapter 11 plan in 7 to 10 days, lawyer says -- court hearing
* Sees estimated net recovery $60.1 billion as of December 31, up from $57.5
billion estimate as of June 30 -- SEC filing
* Expects 'more opportunistic' asset disposals in next year, especially in real
estate
* Says employed 252 in asset management, 314 in claims/general administrative
resources at December 31; sees numbers falling to 223 and 302 by June 30
* Says total claims $319 billion against Lehman parent, of which $272 billion
likely allowed; says total claims $50 billion against all other debtors, all
of which likely allowed
* Says proposed first amended plan provides for settlement between (1) parent's
senior and general unsecured creditors, and (2) creditors of subsidiary
debtors
* Says proposed first amended plan provides for settlement between debtors and
foreign affiliates
* Says 'significant amount of filed claims remains unresolved'
* Says $40.3 billion derivatives claims out of $45.3 billion remain, comprising
1,400 contracts and 891,752 trades; says 'big banks' have 48 percent share of
remaining claims
* Seeks agreement on rules to resolve derivative claims by April 30
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Lehman Brothers Holdings Inc click here:) COPYRIGHT Copyright Thomson Reuters 2011. 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.
* Lawyer says chapter 11 bankruptcy plan clearly will not be confirmed this
quarter - court hearing
* To file amended chapter 11 plan in 7 to 10 days, lawyer says -- court hearing
* Sees estimated net recovery $60.1 billion as of December 31, up from $57.5
billion estimate as of June 30 -- SEC filing
* Expects 'more opportunistic' asset disposals in next year, especially in real
estate
* Says employed 252 in asset management, 314 in claims/general administrative
resources at December 31; sees numbers falling to 223 and 302 by June 30
* Says total claims $319 billion against Lehman parent, of which $272 billion
likely allowed; says total claims $50 billion against all other debtors, all
of which likely allowed
* Says proposed first amended plan provides for settlement between (1) parent's
senior and general unsecured creditors, and (2) creditors of subsidiary
debtors
* Says proposed first amended plan provides for settlement between debtors and
foreign affiliates
* Says 'significant amount of filed claims remains unresolved'
* Says $40.3 billion derivatives claims out of $45.3 billion remain, comprising
1,400 contracts and 891,752 trades; says 'big banks' have 48 percent share of
remaining claims
* Seeks agreement on rules to resolve derivative claims by April 30
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Lehman Brothers Holdings Inc click here:) COPYRIGHT Copyright Thomson Reuters 2011. 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.
© 2011 AFX News
