Lehman Makes Deal With German Bank Over €139M

Law360, New York (December 16, 2008, 12:00 AM EST) -- A German bank has struck a deal with bankrupt Lehman Brothers Holdings Inc. regarding the exercise and liquidation of currency options contracts nominally worth €139 million.

According to Judge James M. Peck's order Monday in the the U.S. Bankruptcy Court for the Southern District of New York, if Deutsche Zentral-Genossenschaftsbank AG exercises a currency option, the transaction will be deemed liquidated at the current market value.

According to the order, the bank will have until the bar date established in the bankruptcy case to file any...
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