Elliott Drops Objection To Lehman $625M Aurora Deal

Law360, New York (August 5, 2009, 3:58 PM EDT) -- Elliott Management Corp. has dropped its objection to Lehman Brothers Holdings Inc.'s move to provide an additional $625 million in financing to its subsidiary Aurora Bank FSB, now that the bankrupt investment house has provided further information on the risks, benefits and terms of the deal.

Elliott withdrew its objection Tuesday in the U.S. Bankruptcy Court for the Southern District of New York after LBHI disclosed “incremental information” about the proposed deal.

Judge James M. Peck is scheduled to decide Wednesday whether LBHI can provide the...
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