Lehman says more time is needed to file its disclosure statement

By Lisa Kerner

Charlotte, N.C., March 2 - Lehman Brothers Holdings, Inc. wants the court to extend its time to file a disclosure statement to April 14, according to a Tuesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

A hearing is scheduled for March 17.

Lehman said the debtors "have not had a full and ample opportunity to complete a comprehensive disclosure statement."

"Rather than filing a disclosure statement that is not fulsome and informative, it would be a more efficient use of the debtors' resources to defer the filing of their disclosure statement at this time," the filing said.

New York-based Lehman Brothers Holdings Inc. was the fourth-largest investment bank in the United States. The company filed for bankruptcy on Sept. 15, 2008. Its Chapter 11 case number is 08-13555.

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