Lehman Creditors Back $45M SunCal Settlement

Law360, New York (October 19, 2010, 4:32 PM EDT) -- Lehman Brothers Holdings Inc.'s unsecured creditors have thrown their weight behind a settlement between the bankrupt investment bank and the trustee overseeing SunCal Cos.' bankruptcy that will see Lehman commit up to $45 million to restructure the California real estate developer.

In a supporting motion filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, Lehman's official committee of unsecured creditors said it backed Lehman's proposed reorganization of SunCal because the total value of the properties that would come under Lehman's control...
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