Market News
March 2010
Mar 16 2010
- Lehman Brothers has filed an initial bankruptcy plan with the court outlining how the company plans to divide up its assets
- While the plan did not cover expected recoveries, it listed over 130 classes of creditors
- While Lehman plans to liquidate most of its assets, the company will hold onto some units including real estate, uranium and asset management opperations
Mar 15 2010
- Judge Gerber has paved the way for Lyondell to exit bankruptcy, overruling objections over the valuation of the company
- A group of creditors had argued that the $15.2 billion valuation of the company was artificially low
- The ruling brings Lyondell one step closer to achieving its planned exit from bankruptcy on April 30th
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