Attorney Chip Bowles Comments on Lehman Brothers Disputes
Bingham Greenebaum Doll LLP partner Chip Bowles recently commented on Lehman Brothers Holding Inc.’s claims it was shortchanged by scores of nonprofits that were forced to pay exit derivatives. Years after the financial institution filed for bankruptcy, the company is now demanding millions of dollars from retirement homes, colleges and hospitals.
“Lehman is sort of a zombie-like bankruptcy entity: Instead of looking for brains, it’s looking for cash,” said Chip Bowles, a bankruptcy lawyer with Bingham Greenebaum Doll LLP in Louisville, Kentucky.
“Lehman doesn’t care. They have a duty to maximize their return to their bankruptcy creditors. If you’re Mother Theresa, they’ll go after you,” he said.