EXHIBIT E 

Order Discharging Examiner and Granting Related Relief, In re Lehman 

Brothers Holdings, Inc., Case No. 08-13555 (JMP) 

(Bankr. S.D.N.Y. July 13, 2010) 

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UNITED STATES BANKRUPTCY COURT  

SOUTHERN DISTRICT OF NEW YORK

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In re               : Chapter 11

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LEHMAN BROTHERS HOLDINGS INC., et al., : Case No. 08‐13555 (JMP)

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     Debtors.     : (Jointly Administered)

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ORDER DISCHARGING EXAMINER  

AND GRANTING RELATED RELIEF

  

Upon consideration of the Motion of Anton R. Valukas, Bankruptcy Court

Examiner, by and through his attorneys, Jenner & Block LLP, for an Order discharging

him as Examiner, and after due deliberation and sufficient cause appearing,   

IT IS ORDERED as follows:

1. The Motion is granted, the appointment of Anton R. Valukas is terminated; and

the Examiner and his professionals are discharged from any further obligations,

duties, or responsibilities except as otherwise set forth in this Order.    Subject to

paragraph 4 below:  

a. If requested, the Examiner and his professionals may continue to provide such

cooperation and assistance as he in his discretion deems appropriate to

government agencies and the United States Trustee.

b. If requested, the Examiner and his professionals may continue to provide such

cooperation and assistance as he in his discretion deems appropriate to the

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Debtors, the official committee of unsecured creditors appointed in these cases (the

“Creditors’ Committee”) and James W. Giddens, SIPA Trustee for the Liquidation

of the Business of Lehman Brothers Inc. (the “SIPA Trustee”).

c. If other parties request cooperation or assistance from the Examiner and his

professionals and such requesting parties are not parties to a pending civil

litigation, the Examiner shall give written notice to the attorneys for the Debtors,

Weil, Gotshal & Manges LLP, and the Creditors’ Committee, Milbank, Tweed,

Hadley & McCloy LLP, and any other party in interest that makes a written

request of the Examiner for notice of all such requests for cooperation or assistance

from the Examiner.  The Debtors, the Creditors’ Committee and any party that has

requested notice of requests for cooperation or assistance of the Examiner may,

within five business days of receipt of such notice, informally object to such

request.   If an objection is asserted, the parties shall confer within five business

days of the assertion of such objection in an effort to resolve the objection.  If the

objection cannot be resolved, the objecting party or parties may, within five

additional business days, make a motion with the Court to be heard at the next

omnibus hearing and in compliance with the case management order governing

the Debtors’ cases seeking an order prohibiting or limiting the scope of the

requested cooperation or assistance from the Examiner and his professionals, or

for such other relief as may be appropriate.  If such a motion is filed, the Examiner

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shall not provide the requested cooperation or assistance pending the disposition

of the motion.  If no objection is asserted within five business days of receipt of the

notice, or if no motion is filed within ten business days after assertion of an

objection, the Examiner and his professionals may provide such cooperation and

assistance as he in his discretion deems appropriate.

d. Notwithstanding anything herein to the contrary, if a party to a pending civil

litigation, including the Debtors, the Creditors’ Committee and the SIPA Trustee,

requests cooperation and assistance from the Examiner relating to, concerning or

involving that litigation, the Examiner shall give written notice to all other parties

to such litigation and the Debtors and the Creditors’ Committee to the extent either

the Debtors or the Creditors’ Committee is not a named party to the litigation.  

Any such party may, within five business days ofreceipt of such notice, informally

object to such request.  If an objection is asserted, the parties shall confer within five

business days of the assertion of such objection in an effort to resolve the objection.  

If the objection cannot be resolved, the objecting party or parties may, within five

additional business days, make a motion with the Court to be heard at the next

omnibus hearing and in compliance with the case management order governing

the Debtors’ cases or in the court where such litigation is pending in accordance

with the rules governing notice and discovery in that litigation seeking an order

prohibiting or limiting the scope of the requested cooperation or assistance from

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the Examiner and his professionals, or for such other relief as may be appropriate.  

If such a motion is filed, the Examiner shall not provide the requested cooperation

or assistance pending the disposition of the motion.   If no objection is asserted

within five business days of receipt of the notice, or if no motion is filed within ten

business days after assertion of an objection, the Examiner and his professionals

may provide such cooperation and assistance as he in his discretion deems

appropriate.

e. The Examiner and his professionals shall perform any and all acts necessary to

transition the maintenance of the CaseLogistix database of documents he has

assembled to a neutral vendor as more fully described in paragraph 6 of this

Order.      

2. The Examiner and his professionals are released from any and all liability with

respect to any act or omission, statement, or representation arising out of,

relating to, or involving in any way, the Investigation or any report, pleading,

or other writing filed by the Examiner in connection with the bankruptcy cases,

except in the case of gross negligence or willful misconduct.   

3. The Examiner and his professionals are relieved from any formal or informal

discovery process and no party shall issue or serve any discovery request upon the

Examiner or his professionals, except as authorized (a) by this Court or another

court of competent jurisdiction where litigation is pending upon notice of

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motion to, and an opportunity to object by, the Examiner, the Debtors, the

Creditors’ Committee and parties in interest and demonstration by the

requesting party that such materials or information cannot be reasonably

obtained from any other source or for other cause shown, or (b) by an order of a

federal district court presiding over a criminal proceeding in which a party in

interest is a defendant finding that the Examiner or his professionals are obliged

to produce documents or other materials to said defendant under the principles

of Brady v. Maryland, 373 U.S. 83 (1963), as embodied in subsequent caselaw and

the Federal Rules of Criminal Procedure.    The prohibition against discovery

from the Examiner shall not prevent the discovery of information related to

compensation applications filed by the Examiner or his professionals.    The

Examiner and his professionals shall maintain all materials currently in their

possession related to their work on behalf of the Examiner until further order of

the Court, upon notice and an opportunity to be heard by parties in interest, or

until the closing of these Chapter 11 cases.    

4. The Examiner and his professionals shall be entitled to reimbursement by the

Debtors of any reasonable fees and expenses incurred (including professional

fees and expenses) in connection with (i) any cooperation, assistance, or

transition services they provide to the Debtors, the Creditors’ Committee,

government agencies or the United States Trustee pursuant to this Order, (ii)  

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objecting to, opposing, or otherwise responding to any request for formal

discovery pursuant to paragraph 3 of this Order, or (iii) an application or

motion for allowance and payment of fees and expenses payable by the

Debtors.    All fees of and expenses incurred by the Examiner and his

professionals in connection with any cooperation or assistance provided to a

party other than the Debtors, the Creditors’ Committee, government agencies or

the United States Trustee pursuant to this Order or in objecting to, opposing, or

otherwise responding to any request for discovery by such party that is outside

the scope of paragraph 3 of this Order shall be paid by, and shall be the sole and

exclusive obligation of, such party.    To the extent that the Examiner and his

professionals’ fees and expenses are payable by the Debtors and do not exceed

$150,000 per month, the Examiner and his professionals may submit invoices to

the Debtors and the Creditors’ Committee, with notice to the United States

Trustee and an opportunity to object.    Such invoices shall be reasonably

detailed, shall indicate the nature of the services rendered and shall be

calculated in accordance with the billing practices employed by the Examiner

and his professionals in this case.  Absent any objection or dispute, the Debtors

shall be authorized to pay such invoices without further order of the Court.  In

the event that the Debtors dispute any such invoice, the Examiner and his

professionals may request, by motion, that such disputed fees or expenses be

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approved by this Court and shall not be required to file a fee application

therefor.   In the event that fees and expenses payable by the Debtors exceed

$150,000 in any month, a fee application shall be filed and considered in

accordance with the procedures established in these cases.  Nothing herein shall

abrogate the obligation of the Examiner and his professionals to file applications

for final allowances of compensation and reimbursement of expenses incurred

prior to the entry of this Order or limit the rights of any party in interest to

contest or otherwise object to such applications.   

5. The Debtors shall continue to maintain the Stratify database of documents, in its

current format, in the interests of the administration of the chapter 11 cases until

further order of the Court, upon notice and an opportunity to be heard by

parties in interest.   

6. The Examiner is authorized to join with the Debtors to negotiate a contract

between the Debtors and Epiq Bankruptcy Solutions LLC (“Epiq”) or another

comparable, neutral vendor, under which the selected vendor will take custody

and maintenance of the documents contained in the CaseLogistix database

assembled by the Examiner.  The vendor’s reasonable charges shall be paid by

Debtors as an administrative expense of the Debtors.    

7. Parties in interest who are not stayed or otherwise prohibited from seeking

discovery by order of the Court or any other court of competent jurisdiction or  

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applicable law may request access to documents contained in the CaseLogistix

database as follows:

a. In the case of a request by a person or entity that is not a party to a pending civil

litigation in a court of competent jurisdiction, a document request (“Document

Request”) must be served on the attorneys for the Debtors and the Creditors’

Committee and forwarded to the vendor.  A Document Request shall not be filed

with the Court.  In the case of a request by a person or entity that is a party to such

a pending civil litigation, including the Debtors, the Creditors’ Committee and the

SIPA Trustee, a subpoena pursuant to Rule 45 of the Federal Rules of Civil

Procedure or any other applicable rules (“Subpoena”) shall be served in

compliance with all rules governing notice and discovery in that litigation and

shall also be served on attorneys for the Debtors and the Creditors’ Committee to

the extent either the Debtors or the Creditors’ Committee is not a named party to

the litigation and forwarded to the vendor.

b. The vendor shall promptly identify responsive documents by producing party.  

The vendor shall then provide notice (“Notice”) to each identified producing party

setting out the Document Request or Subpoena, the identity of the party making

the request (the “Requesting Party”) and the specific documents that have been

identified as responsive to the Document Request or Subpoena; the vendor shall

provide to the Debtors, the Creditors’ Committee, the Requesting Party and any

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other person or entity that has been served with notice of a Subpoena by the

Requesting Party in accordance with paragraph 7(a) above, a copy of the Notice

that includes a schedule of responsive documents, but shall not attach or provide

copies of any specific documents.          

c. The Debtors, the Creditors’ Committee and the producing party (collectively, the

“Interested Parties”) shall have five business days from the date of Notice to

informally object to the Document Request and shall serve such objection on the

Requesting Party and the other Interested Parties with a copy to the vendor.  An

objection to a Document Request shall not be filed with the Court.   If a timely

objection to the Document Request is asserted, the objecting party or parties and

the Requesting Party shall confer within five business days of the assertion of an

objection in an effort to resolve the objection.  If the objection cannot be resolved,

the objecting party or parties may, within five additional business days, make a

motion with the Court to be heard at the next omnibus hearing and in compliance

with the case management order governing the Debtors’ cases seeking an order

restricting or prohibiting access to the requested documents, orfor such otherrelief

as may be appropriate.  If such a motion is filed, the vendor shall not comply with

the Document Request pending the disposition of the motion.    If no timely

objection is asserted to a Document Request, or if no motion is filed within ten

business days after assertion of an objection, the vendor shall promptly make the

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requested documents available to the Requesting Party on a separate, publicly

available platform.  Nothing herein shall confer standing on any party to object to a

Document Request and all rights to contest, object to or support standing of an

objecting party are preserved.

d. Objections to a Subpoena issued in a pending civil litigation shall be heard in that

litigation and governed by the applicable rules of civil procedure and discovery in

such litigation.  Nothing herein shall confer standing on any party to object to a

Subpoena and all rights to contest, object to or support standing of an objecting

party are preserved.

e. Notwithstanding anything herein to the contrary, the Debtors, the Creditors’

Committee and the SIPA Trustee may request access to documents contained in

the CaseLogistix database that do not relate to, concern or involve a pending civil

litigation to which the Debtors, the Creditors’ Committee or the SIPA Trustee are a

party by providing a Document Request directly to the vendor.  Prior notice to,

and an opportunity to object to such a Document Request by, the Debtors or the

Creditors’ Committee shall not be required; provided, however, that, in all cases, the

producing party or parties must be notified of and given an opportunity to object

to the Document Request in accordance with provisions of paragraph 7 of this

Order.  A Document Request made by the Debtors, the Creditors’ Committee or

the SIPA Trustee shall not be filed with the Court.   Allrequests by the Debtors, the

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Creditors’ Committee or the SIPA Trustee for documents contained in the

CaseLogistix database relating to, concerning orinvolving a pending civil litigation

to which the Debtors, the Creditors’ Committee or the SIPA Trustee is a party shall

be made by Subpoena and shall comply with the provisions of this paragraph 7

governing Subpoenas.

f. For the avoidance of doubt, nothing in this paragraph 7 is intended to expand,

contract, waive or otherwise modify the rights of any party in interest to seek

discovery in these cases or in any pending litigation.  All rights possessed by the

Debtors, the Creditors’ Committee, or other parties in interest to object to or

otherwise contest the propriety of any party or parties in interest to request access

to documents contained in the CaseLogistix database are expressly reserved.   

Dated: New York, New York

    July 13, 2010

      s/ James M. Peck

UNITED STATES BANKRUPTCY JUDGE

                                        

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