Lehman Creditors Drop Appeal, $9B Swiss Unit Deal Freed Up

Law360, Los Angeles (February 26, 2014, 10:41 PM EST) -- The final objectors to Lehman Brothers Holdings Inc.’s $8.8 billion settlement with its Swiss subsidiary agreed Wednesday to lift their appeal, striking a deal of their own that allows them to reassert damages claims stemming from Lehman’s bankruptcy, according to a motion filed in New York bankruptcy court.

The deal allows Lehman to execute a settlement that ended its sprawling, four-year tussle with its subsidiary, closing the chapter on one of the biggest claims disputes that has beset the erstwhile investment banking giant since it slid...
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