Lehman Unit Gains Approval To Take Over Swap Deal

Law360, New York (September 18, 2009, 2:03 PM EDT) -- A bankruptcy judge has cleared the way for a subsidiary of bankrupt investment firm Lehman Brothers Holdings Inc. to assume a nearly $9.8 million interest rate swap deal with MEG Energy Corp.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York on Sept. 17 signed off on the stipulation agreement in which the energy firm has agreed to pay about $9.8 million for Lehman Bros. Special Financing Inc. to take over the swap deal after the Lehman unit claimed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.