Lehman To Settle With Societe Generale, Net $445M

Law360, New York (September 21, 2010, 6:38 PM EDT) -- Lehman Brothers Special Financing Inc. has struck a deal with the New York branch of French bank Societe Generale that should net the bankrupt investment firm's creditors at least $445 million.

Lehman requested Monday that the U.S. Bankruptcy Court for the Southern District of New York approve the settlement of a dispute with Societe Generale over two credit default swap agreements that were terminated in the weeks following the investment firm's Chapter 11 filing in 2008, according to the motion.

The court will hold a hearing...
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