Lehman Minibond Holders OK'd To Go After LBSF

Law360, New York (August 10, 2010, 5:23 PM EDT) -- A district judge has ruled that investors in minibonds marketed by Lehman Brothers Holdings Inc. have the right to pursue derivative claims against Lehman Brothers Special Financing Inc. and HSBC Bank USA, partially reversing a bankruptcy court decision on appeal.

Judge William H. Pauley III of the U.S. District Court for the Southern District of New York on Monday affirmed a bankruptcy judge's dismissal of two of the noteholders' claims but revived a third and reversed the bankruptcy judge's denial of leave to amend the noteholders'...
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