Lehman Ends Loan Spat With Developer SunCal

Law360, Los Angeles (October 24, 2011, 8:11 PM EDT) -- California developer SunCal Cos. agreed Monday to settle its dispute with Lehman Brothers Holdings Inc. over more than 20 bankrupt housing projects that were put in limbo following the financial institution's collapse in 2008.

SunCal agreed to drop lawsuits lodged against its former business partner after Lehman filed for Chapter 11 bankruptcy and cut off funding to a $2 billion loan used to help finance a group of California real estate projects. The Irvine, Calif.-based developer also agreed to withdraw a competing Chapter 11 restructuring plan...
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