Lehman Seeks Approval of Procedures to Terminate Unfunded Commitments and Restructure Corporate Loan Agreements

15 May 2009
Download PDF
This client update discusses Lehman's proposed handling of its unfunded and underperforming lending commitments to borrowers.  Lehman filed a motion Thursday requesting court approval of guidelines under which Lehman can enter into consensual lending termination agreements with borrowers and assign loans and unfunded commitments, based on its own business judgment and without further court approval.