Lehman's disclosure statement changed to guarantee class description

By Lisa Kerner

Charlotte, N.C., Sept. 15 - Lehman Brothers Holdings Inc.'s requested court approval to make changes to the disclosure statement for its third amended joint Chapter 11 plan was approved by the U.S. Bankruptcy Court for the Southern District of New York, according to a Thursday court filing.

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

As previously reported, Lehman said it wanted to modify the description of the types of claims included in the company's senior third-party guarantee class.

The change makes the disclosure statement conform 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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