Lehman Makes Plea To Save $900M Investment

By Erin Fuchs

Law360, New York (February 25, 2010, 6:07 PM ET) -- A Lehman Brothers Holdings Inc. affiliate has asked a bankruptcy judge to allow it to pay expenses for special purpose investment vehicles in the Cayman Islands, saying if the SPVs dissolve it stands to lose $900 million.

Lehman Brothers Special Financing Inc. moved Tuesday for permission to pay the administrative expenses and fees on the Cayman SPVs, saying it hasn't paid them since its September 2008 Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of New York.

The erstwhile financial giant expressed...
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