Law Firms
New Creditors’ Counsel Not the Only Star Figure at Lehman Hearing
Posted Sep 18, 2008, 06:09 am CST
By Debra Cassens Weiss
Milbank, Tweed, Hadley & McCloy will be reprising a role it had in the Enron bankruptcy with its appointment to represent the creditors’ committee in Lehman Brothers’ Chapter 11 filing.
Leading the Milbank team is the leader of the firm’s restructuring group, Dennis Dunne, the New York Law Journal reports. The committee is made up of the largest unsecured institutional creditors.
Weil, Gotshal & Manges, debtor’s counsel for Enron, is representing Lehman, led by bankruptcy giant Harvey Miller.
At a New York hearing in the Lehman case yesterday, the high-profile lawyers weren’t the only star attraction, the Wall Street Journal Deal Journal reports. Chelsea Clinton was there; she’s an employee of the hedge fund Avenue Capital.
With $639 billion in claimed assets and $613 billion in debt, the Lehman bankruptcy is the largest ever filed. Enron claimed about $60 billion in assets when it filed for bankruptcy.