GE, Lehman Spar Over Hundreds Of Millions In Trades

Law360, New York (December 29, 2008, 12:00 AM EST) -- General Electric Corporate Financial Services Inc. on Wednesday sought relief from an automatic stay in the Lehman Brothers Holdings Inc. bankruptcy case in order to terminate trades potentially worth hundreds of millions of dollars.

The motion, filed in the U.S. Bankruptcy Court for the Southern District of New York, relates to a $775 million secured credit facility provided by General Electric Capital Corp. to Bermuda-based Fusion Funding Ltd. and affiliate Fusion Funding Luxembourg — both special-purpose entities set up to purchase Lehman commercial loans.

GE's motion...
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