Lehman Looks To Free Funds By Paring $565M US Air Claim

Law360, New York (January 16, 2013, 7:12 PM ET) -- Lehman Brothers Holdings Inc. asked a New York bankruptcy judge Tuesday to approve its greatly reduced estimate of US Airways Inc.'s disputed claim, arguing that pegging the value at $91 million would free up more than $470 million to pay other creditors.

The investment bank emerged from bankruptcy last March under a Chapter 11 plan requiring it to put aside funds equal to the amount of disputed claims, according to the motion, and “the reserves that LBHI is required to maintain on account of overstated claims...
To view the full article, register now.