Lehman Sues German Entities To Recover $134M Transfer

Law360, Los Angeles (August 23, 2013, 7:25 PM EDT) -- Lehman Brothers Holdings Inc. filed suit against two German entities Friday in New York bankruptcy court in an effort to recover $134 million in collateral the bank transferred to them just days before its historic 2008 bankruptcy filing, saying the transfer was unjustifiable.

Lehman targeted the nonprofit Klaus Tschira Foundation and investment firm Dr. HC Tschira Beteiligungs GmbH & Co. KG, seeking the return of 100 million euros (about US$134 million) that the bank transferred to the entities as additional collateral one business day before it filed for Chapter 11 bankruptcy protection. Both entities...
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