Lehman Sues Credit Suisse Over $1B In Bankruptcy Claims

Law360, Los Angeles (November 06, 2013, 9:00 PM ET) -- Lehman Brothers Holdings Inc. hit Credit Suisse and affiliates with an adversary complaint in New York bankruptcy court on Wednesday, saying it inflated its derivatives and guarantee claims by more than $1 billion in violation of the Bankruptcy Code and applicable agreements.

The complaint, filed by the defunct financial services firm with the U.S. Bankruptcy Court for the Southern District of New York, seeks to reduce, disallow or expunge the creditor’s claims because they’ve been unlawfully increased. Credit Suisse has filed 16 claims that are among...
To view the full article, register now.