Lehman Unit Gains Approval To Take Over Swap Deal

Law360, New York (September 18, 2009, 2:03 PM EDT) -- A bankruptcy judge has cleared the way for a subsidiary of bankrupt investment firm Lehman Brothers Holdings Inc. to assume a nearly $9.8 million interest rate swap deal with MEG Energy Corp.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York on Sept. 17 signed off on the stipulation agreement in which the energy firm has agreed to pay about $9.8 million for Lehman Bros. Special Financing Inc. to take over the swap deal after the Lehman unit claimed...
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