Lehman creditor group ordered to provide member, claims information

By Caroline Salls

Pittsburgh, April 18 - Lehman Brothers Holdings Inc.'s motion asking the U.S. Bankruptcy Court for the Southern District of New York to order the members of an informal group of the company's creditors to produce claims information required under Federal Rule of Bankruptcy Procedure 2019 was granted, according to a Monday court filing.

Lehman said Rule 2019 requires entities and committees that represent more than one creditor to file a statement disclosing the names and address of the committee members, the nature and amount of claims or interests they hold, when the claims or interests were acquired, how much they paid for the claims or interests and details on the formation of the committee.

According to the motion, three entities asserting a total of $12.5 billion in claims against Lehman organized the informal creditors group sometime around May 2009.

The company said the creditors group, which now has 13 members allegedly holding a total of $20.2 billion in claims against Lehman and its affiliates, has never complied with Rule 2019 because it does not consider itself a committee under the rule.

In addition, Lehman said the group has actively participated in its Chapter 11 cases and has approved and filed numerous pleadings in the cases, including a Chapter 11 plan.

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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