Goldman Sachs, along with other banks, is planning a proposal for the liquidation of Lehman Brothers, The Wall Street Journal reports. The plan will oppose a revised proposal submitted by Lehman in January and another filed by Paulson & Company, the California Public Employees Retirement System and other bondholders in December, adds Reuters.
Goldman and the other banks are all creditors of a Lehman unit, called Lehman Brothers Special Financing. The other banks include Bank of America, Credit Suisse, Deutsche Bank, Merrill Lynch, Morgan Stanley and Royal Bank of Scotland.
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