Epiq takes on largest Chapter 11 in history
Lehman Brothers, with $600 billion in assets, more than 875 securities issuances, 6,000 program securities and 67,000 proofs of claim, contracted with Epiq to implement an innovative process to handle the extremely high volume of claims and programs securities.
Epiq worked closely with Lehman, Lehman’s counsel, trustees, creditors and the international depositories to develop and implement:
- A specialized bond position-blocking process
- Custom software for online claims filing
- Communications channels for creditor and sale parties
- Specialized high-touch bar date process
- High-volume noticing processes
After successfully navigating what could arguably be the most complex, high-volume bar date process in history, Lehman Brothers Holdings, Inc. was well positioned to ballot their Chapter 11 plan, which ultimately was approved by an overwhelming majority of its creditors.