On February 20, 2015, Jenner & Block Chairman Anton R. Valukas and SeniorPartner Daniel R. Murray repeated their Harvard Business School appearance from last year and taught two classes – approximately 200 students – regarding the collapse of Lehman Brothers. Their presentation focused on why Lehman Brothers failed, why Chapter 11 bankruptcy was not a strong option for Lehman, and what lessons can be learned from the events transpiring before and after Lehman’s failure. The classes involved interactive discussion with the students and were part of a course at the Harvard Business School titled “Creating Value through Corporate Restructuring.”
Mr. Valukas was the court-appointed examiner in the Lehman Brothers Holdings bankruptcy - the largest bankruptcy in U.S. history. Together with his team of attorneys at Jenner & Block, he produced a 2,200-page account, coined by the press as the “Valukas Report,” which was universally applauded for its clarity and usefulness in determining what brought about the demise of Lehman Brothers, an event many commentators point to as the precipitating event triggering the global economic crisis of 2008.
Mr. Murraychairs the firm’s Bankruptcy, Workout and Corporate Reorganization Practice, as well as the Commercial Law and Uniform Commercial Code Practice. He has been involved in numerous high-profile matters, including participation in the teams representing General Motors Corporation in its Chapter 11 bankruptcy and Chairman Anton R. Valukas in his role as the court-appointed examiner in the Lehman Brothers bankruptcy case.