Lehman Seeks To Expunge $469M In Claims

Law360, New York (December 1, 2010, 4:22 PM EST) -- Lehman Brothers Holdings Inc. has asked a court to nix more than $469 million in derivative claims that the firm said it has already settled, arguing it was not liable under relevant derivative contracts.

In an objection filed Tuesday, Lehman told the U.S. Bankruptcy Court for the Southern District of New York that it should disallow and expunge 268 separate claims on the grounds that they run counter to settlements into which the debtors had entered.

The signed settlement agreements, Lehman said, resolved various derivative claims...
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