Lehman To Access $3.1M In Previously Frozen Funds

Law360, New York (March 23, 2010, 5:49 PM EDT) -- A Norwegian bank and a South African bank have agreed to transfer more than $3.1 million to Lehman Brothers Holdings Inc. to settle a dispute over funds that were deposited after the commencement of the company’s bankruptcy case.

Under one settlement, which was approved Monday by Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York, Norway's DnB NOR Bank ASA will hand over about $3.06 million plus interest to Lehman.

The other settlement, filed Monday, stipulated that a division...
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