The Firm represents 344 former senior executives of Lehman Brothers Inc. (“LBI”) in hotly contested defense of an effort by the Trustee of the LBI bankruptcy Estate to extinguish their deferred compensation pension retirement entitlements that the clients self-funded in the 1980s. Those claims total more than $270 million. The bankruptcy Trustee has said that the issue being litigated is the only litigation remaining in the 12+-year-old LBI bankruptcy.
A copy of the Firm’s most recent opening filing before the United States Second Circuit Court of Appeals, where the Trustee is seeking to defeat the client group’s rights to the individual’s purchased pensions, can be found here.
Discussion of the Trustee’s abandonment of its earlier arguments and abandonment of the rationale of the decision below upon reaching the Second Circuit can be found here.