Lehman Can't Avoid $17M Swap Deal Suit, Charity Says

Law360, New York (August 12, 2013, 2:13 PM ET) -- Lehman Brothers Holdings Inc. has hidden behind Chapter 11 bankruptcy protection to stick a United Church of Christ-affiliated housing charity with a $16.8 million interest-rate swap bill, the group argued in New York bankruptcy court Thursday.

The Retirement Housing Foundation and its affiliates asked the Manhattan court to lift the automatic stay so that it can pursue litigation in California against Lehman Brothers over the $16.8 million that RHF says Lehman Brothers owes it for a now-canceled interest-rate swap. Lehman Brothers says that it doesn't owe...
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