Millennium To Pay $99M Over Lehman Swaps

Law360, New York (April 22, 2010, 2:13 PM EDT) -- Lehman Brothers Holdings Inc. is seeking court approval of a deal that will see Millennium Management LLC shelling out $99 million to settle an adversary proceeding over certain swap transactions and a partnership agreement.

In a filing Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Lehman and its unit Lehman Brothers Special Financing Inc. said the deal was in the best interests of the debtors' estates and creditors.

According to the filing, LBSF became a limited partner in Millennium USA LP...
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