Lehman Brothers Financial SA (LEHNQ)

[yx88hc]

'"Emerge" in the Lehman case means the POR is effective and Lehman can now start to payoff the POR. That is all it means.'

Yes, it needs to make the payments as planned. But beyond that, it can do all the things mentioned below that a company cannot do under the protection of the bankruptcy court.

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Limits on out-of-the-ordinary business decisions.

A company in Chapter 11 needs Court approval to engage in activities that may be outside the ordinary course of business. These could include new business ventures, capital spending or the sale of assets. Creditors may require that a committee be appointed by the Court to have a stronger voice in the operations and business decisions of the debtor.
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