Lehman Sues Credit Agricole Over $34M Terminated Swaps

Law360, New York (March 25, 2013, 10:36 PM EDT) -- Lehman Brothers Holdings Inc. launched an adversary suit in New York bankruptcy court Monday claiming Credit Agricole Corporate and Investment Bank refuses to pay nearly $34 million for deals arranged with a Lehman unit prior to the investment bank's decent into Chapter 11.

According to the complaint, Credit Agricole terminated certain swap transactions with Lehman Brothers Commercial Corp. on Sept. 16, 2008 — one day after LBHI filed for Chapter 11 — and now refuses to pay the $34 million which it admittedly owes as an...
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