MBS Trustees Under Scrutiny At Close Of Lehman Ch. 11 Trial

Law360, New York (February 9, 2018, 8:56 PM EST) -- Counsel for a group of residential mortgage-backed securities trusts faced skepticism from the bench Friday while delivering closing arguments in a bid to augment the trusts' allowed Chapter 11 claim against Lehman Bros. Holdings Inc. for selling them misrepresented loans, saying their $11.4 billion damage calculations have been substantially supported.

U.S. Bankruptcy Judge Shelley C. Chapman had a lot of questions to ask during the last day of a multi-week trial process to evaluate claims against Lehman for allegedly selling billions of dollars' worth of toxic home loans before its 2008 collapse — so much so that she apologized for frequently...

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