Lehman Settles $4.5B Claim With London Objector

Law360, New York (August 23, 2011, 4:20 PM EDT) -- The group that leased London offices to Lehman Brothers Holdings Inc. said Monday that it has reduced its claim against the bankrupt investment bank from about $4.5 billion to $780 million and will not oppose Lehman's plan confirmation.

Canary Wharf Group PLC leased offices to Lehman in a 33-story tower on Bank Street in London's new Canary Wharf development until Lehman became insolvent in 2008. Several entities connected with the group filed lease-related claims against Lehman in September 2009 totaling $4.48 billion. The Canary Wharf entities...
To view the full article, register now.