State Street, Lehman Seek To Toss Developer's Suit

Law360, New York (May 4, 2009, 12:00 AM EDT) -- The lending arm of Lehman Brothers Holdings Inc. and State Street Bank & Trust Co. have asked a court to dismiss a lawsuit filed by a real estate developer seeking a declaration that State Street acquired a $27 million loan agreement from Lehman before the investment bank went bankrupt.

In a motion filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, State Street said it acquired only one part of the loan agreement, which is already satisfied, and therefore had no...
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