Lehman Seeks OK For $15M Deal In SunCal Plan

Law360, New York (September 21, 2009, 7:34 PM EDT) -- Lehman Brothers Holdings Inc. has asked the judge overseeing its Chapter 11 proceedings to sign off on a proposed $15 million settlement involved in its competing plan of reorganization for SunCal Cos., which has sued Lehman over the more than $2 billion in loans it provided the bankrupt real estate developer.

The motion, filed Sept. 16 in the U.S. Bankruptcy Court for the Southern District of New York, seeks the court's approval of the transactions involved in the plan Lehman filed in SunCal's own bankruptcy in...
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.