Creditor Objects To Lehman's $625M Aurora Deal

Law360, New York (July 30, 2009, 6:58 PM EDT) -- Elliott Management Corp. has objected to Lehman Brothers Holdings Inc.'s move to provide an additional $625 million in financing to its subsidiary Aurora Bank FSB, claiming that the bankrupt financial services giant has provided little information justifying the potentially risky investment.

Elliott, one of LBHI's largest creditors, challenged the firm's bid to loan the bank an additional $125 million and provide it with a new $500 million revolving loan facility, in an objection filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New...
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