UNITED
STATES
BANKRUPTCY
COURT
SOUTHERN
DISTRICT
OF
NEW
YORK
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
x
In
re
LEHMAN
BROTHERS
HOLDINGS
INC.,
et
al.
,
Debtors.
:
:
:
:
:
:
:
Chapter
11
Case
No.
08
‐
13555
(JMP)
(Jointly
Administered)
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
x
REPORT
OF
ANTON
R.
VALUKAS,
EXAMINER
March
11,
2010
Jenner
&
Block
LLP
353
N.
Clark
Street
Chicago,
IL
60654
‐
3456
312
‐
222
‐
9350
919
Third
Avenue
37th
Floor
New
York,
NY
10022
‐
3908
212
‐
891
‐
1600
Counsel
to
the
Examiner
VOLUME
1
OF
9
Sections
I
&
II:
Introduction,
Executive
Summary
&
Procedural
Background
Section
III.A.1:
Risk
i
EXAMINER’S
REPORT
TABLE
OF
CONTENTS
VOLUME
1
Introduction,
Sections
I
&
II:
Executive
Summary
&
Procedural
Background
Introduction...................................................................................................................................2
I.
Executive
Summary
of
The
Examiner’s
Conclusions......................................................15
A.
Why
Did
Lehman
Fail?
Are
There
Colorable
Causes
of
Action
That
Arise
From
Its
Financial
Condition
and
Failure?..................................................................15
B.
Are
There
Administrative
Claims
or
Colorable
Claims
For
Preferences
or
Voidable
Transfers?........................................................................................................24
C.
Do
Colorable
Claims
Arise
From
Transfers
of
LBHI
Affiliate
Assets
to
Barclays,
or
From
the
Lehman
ALI
Transaction?.......................................................26
II.
Procedural
Background
and
Nature
of
the
Examination................................................28
A.
The
Examiner’s
Authority .............................................................................................28
B.
Document
Collection
and
Review................................................................................30
C.
Systems
Access................................................................................................................33
D.
Witness
Interview
Process.............................................................................................35
E.
Cooperation
and
Coordination
With
the
Government
and
Parties ........................37
Section
III.A.1:
Risk
III.
Examiner’s
Conclusions.......................................................................................................43
A.
Why
Did
Lehman
Fail?
Are
There
Colorable
Causes
of
Action
That
Arise
From
Its
Financial
Condition
and
Failure?..................................................................43
1.
Business
and
Risk
Management.............................................................................43
a)
Executive
Summary............................................................................................43
(1)
The
Examiner
Does
Not
Find
Colorable
Claims
That
Lehman’s
Senior
Officers
Breached
Their
Fiduciary
Duty
of
Care
by
Failing
to
Observe
Lehman’s
Risk
Management
Policies
and
Procedures......................................................................................................47
Search History:
Result 00 of 00
00 results for result for
p.
(ii) The March 20, 2007 Board Meeting for Lehman Brothers Chapter 11 Examiner’s Report 1 of 9
Lehman Brothers Holdings Inc. Chapter 11 Proceedings Examiner’s Report, Volume 1 - Sections I & II: Introduction, Executive Summary & Procedural Background; Section III.A.1: Risk. The Examiner in this matter was Anton R. Valukas, Chairman of Jenner & Block.
1.7K
Reads
1
Readcasts
2
Embed Views
More From This User
Notes
Load more
