Lehman Wins Control Of CDO Assets, French Deal Nod

Law360, New York (August 18, 2010, 7:14 PM EDT) -- A federal judge has allowed bankrupt Lehman Brothers Holdings Inc. to take control of as much as $3.56 billion in real estate holdings underlying a collateralized debt obligation known a Racers and to enter a deal to spruce up property in France.

Praising what was once the country’s fourth-largest investment bank for making progress in getting its vast real estate-related investments in order, Judge James M. Peck issued the rulings during a hearing Wednesday in the U.S. Bankruptcy Court for the Southern District of New York....
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