Lehman Unit Seeks To Assume $9.7M MEG Swap Deal

Law360, New York (September 1, 2009, 7:18 PM EDT) -- A unit of bankrupt investment firm Lehman Bros. Holdings Inc. has asked a bankruptcy court to allow it to assume an interest rate swap agreement with MEG Energy Corp., claiming the energy firm owes it nearly $9.7 million plus default interest.

Lehman Bros. Special Financing Inc. requested authorization from the U.S. Bankruptcy Court for the Southern District of New York Aug. 31 to let it take over the master agreement it entered into with MEG in 2006.

Under the agreement the companies entered into four interest...
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