The bankruptcy court signed off on Lehman Brothers Holdings’ plan to generate as much as $2 billion for creditors by securitizing a portfolio of commercial loans.

Judge James Peek of the U.S. Bankruptcy Court for the Southern District of New York approved Lehman’s agreement with WCAS Fraser Sullivan (WCAS-FS) to run Lehman’s $5.3 billion loan portfolio, including $3.8 billion in commercial loans and $1.5 billion in unfunded loan commitments.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.