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NEW YORK — Lehman Brothers Holdings, which filed the biggest U.S. bankruptcy in September, said it needs an additional six months to put together a plan to pay its creditors.
The collapsed investment bank asked U.S. Bankruptcy Judge James Peck in New York to push the deadline to file a Chapter 11 plan to July 13 from Jan. 13.
The extension is warranted because of the complexity of the case and the need to protect interests in and get data from 76 foreign entities that are in separate insolvency proceedings in 15 countries, attorneys from Weil Gotshal & Manges representing Lehman wrote in court papers filed Tuesday. A hearing on the motion is scheduled for Jan. 14.
Lehman filed for bankruptcy Sept. 15.
Bloomberg News
