Credit Agricole Slams Lehman's $34M Terminated-Swaps Suit

Law360, New York (May 17, 2013, 6:28 PM EDT) -- Credit Agricole Corporate and Investment Bank on Friday urged a New York bankruptcy judge to throw out a lawsuit brought by Lehman Brothers Holdings Inc. over $34 million in terminated swap transactions, saying it doesn’t owe the fallen investment bank a cent.

In a motion to dismiss the adversary proceeding, Credit Agricole says under the relevant contract, it is obligated to pay Lehman for ending their agreement early as a result of its September 2008 bankruptcy only if Lehman Brothers Commercial Corp. affiliates repay what they...
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