Lehman Brothers Holdings is seeking to confirm a liquidation plan that offers creditors about $61 billion, by November 17, Pensions & Investments reports. The creditors are expected to vote on the plan by October 14.
The New York-based lender, which seeks to raise $61 billion for creditors by selling assets, changed its plan to exit Chapter 11 protection in January this year. A creditor group that includes Paulson & Company and CalPERS has proposed a competing plan.
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