Lehman eyes change to disclosure statement guarantee class description

By Caroline Salls

Pittsburgh, Sept. 9 - Lehman Brothers Holdings Inc. requested court approval to make changes to the disclosure statement for its third amended joint Chapter 11 plan, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

After the disclosure statement was approved on Sept. 1, the company said it found that claims based on Lehman Brothers Holdings' guarantee of the obligations of its affiliates under securities lending agreements are not entitled to be treated as senior obligations.

As a result, Lehman said it wants to modify the description of the types of claims included in the Lehman Brothers Holdings' senior third-party guarantee class.

The company said the change will be made so the disclosure statement conforms to the third amended plan.

New York-based Lehman Brothers Holdings 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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