Lehman Brothers Holdings Inc filed a new $65 billion bankruptcy liquidation plan that it said has won wider support, possibly setting the stage for the end of the biggest bankruptcy in U.S. history. If approved, the plan could enable what remains of the fourth-largest U.S. investment bank to emerge from Chapter 11 protection and start repaying creditors. Chief Executive Bryan Marsal has said he hopes to begin payments next year. In a filing Wednesday with the U.S. Bankruptcy Court in Manhattan, Lehman (LEHMQ.PK) said it believed it had an "agreement in principle" with major creditor groups on the revised plan. Its earlier proposals spurred two competing reorganization plans from powerful creditors including the hedge fund Paulson & Co and Goldman Sachs Group Inc (GS.N).
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a financial holding company. Shares of GS traded higher by 2.75% or $3.56/share to $132.82. In the past year, the shares have traded as low as $128.30 and as high as $175.34. On average, 5927480 shares of GS exchange hands on a given day and today's volume is recorded at 4891608.
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