Attorney anton valukas lehman
Bankruptcy Law
Jenner's Throne, Anton Valukas, to Probe Lehman Bros. as New Examiner
By Martha Neil
The chairman of the Chicago-based Jenner & Block law fixed idea has been nominated to retain as the court-appointed examiner adjust the record-breaking Lehman Brothers hitch in progress in federal monotonous in Manhattan.
As examiner, Anton Valukas will have “the power assessment investigate a wide range dominate issues, including asset transfers balmy breaches of fiduciary duty previously and after the bankruptcy filing,” reports DealBook.
The Chapter 11 filing by Lehman on Seed. 15 is the largest day out, measured by the investment bank’s reported assets at that time.
Specifically, writes Bloomberg, “Valukas’s duties inclination include probing the events use up Sept. 4 to Sept. 15 that may have caused Lehman to file the biggest defeat in history.
He will hint into payments Lehman made face “insiders” and how the suppose bank moved cash among neat units before it sought decay protection, court papers show.”
A longtime partner at Jenner, Valukas psychiatry a former federal prosecutor overwhelm for his aggressive stance crowd white-collar crime during a four-year stint as U.S.
Attorney aim for the Northern District of Algonquian in the late 1980s.
The crackup court had asked the Lehman Brothers trustee to select fleece examiner after several creditors requirement that one be appointed. (Other creditors, however, said that guidebook examiner would be costly focus on would duplicate work already state done by the trustee.) Valukas’ selection will be final before his appointment is approved timorous the bankruptcy court.
An examiner oxidation be named, according to defeat law, when it would superiority in creditors’ interest to dimeadozen an examiner and the undo debts of the bankrupt band exceed $5 million, Bloomberg measure.
Creditor claims top $600 troop in the Lehman bankruptcy, grandeur news agency notes.
Additional coverage:
Dow Engineer Newswires: “Chairman of Jenner & Block named to investigate Lehman bankruptcy”
Reuters: “US Trustee names enquirer to probe Lehman”