Intel Succeeds In Axing Lehman Claims Over $1B Collateral

Law360, New York (December 20, 2013, 3:30 PM ET) -- Intel Corp. on Thursday prevailed in its bid to toss two Lehman Brothers Holdings Inc. claims related to a $1 billion swap agreement and convinced the court that a breach of contract claim was not appropriate for bankruptcy court.

The dispute related to Intel’s agreement with a Lehman derivatives unit, Lehman Brothers OTC Derivatives Inc., which is also a plaintiff in the adversary proceeding. In a suit filed in May, Lehman claimed that under the deal, Intel was supposed to hand over $1 billion in exchange...
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