Lehman Brothers could exit bankruptcy this year

Lehman Brothers Holdings Inc said it has received a wider base of support from creditor groups that could help it reach its goal of exiting bankruptcy this year.

The company filed an amended reorganization plan in Bankruptcy Court in Manhattan late Tuesday.

Lehman said it believes it has an "agreement in principle" with major creditor groups on the plan, including support from a committee of unsecured creditors.

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Holders of unsecured debt from Lehman's parent company would receive about 21.1 cents on the dollar under the revised plan. Some creditors, such as a group that includes hedge fund manager John Paulson, had been seeking more.

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Lehman filed for Chapter 11 protection from creditors on September 15, 2008, in what remains by far the largest bankruptcy in U.S. history.

The case is In re: Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555.