FHFA Wants $1.2B Lehman Claim Handled Out Of Bankruptcy

Law360, New York (October 21, 2013, 5:19 PM ET) -- The Federal Housing Finance Agency on Friday requested permission to transfer a $1.2 billion dispute with Lehman Brothers Holdings Inc. from bankruptcy court to a federal district court, saying the matter is centered on a federal nonbankruptcy statute.

In court papers, the agency argues that Lehman’s alleged failure to pay back $1.2 billion, plus interest, on loans issued by Freddie Mac a month before it entered bankruptcy in September 2008 entitle it, as Freddie Mac’s conservator, to a priority claim to recover that amount. The FHFA...
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