We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Lehman, BNY Mellon Unit Settlement Ends UK Case

Law360 (December 15, 2010, 2:54 PM EST) -- A settlement between Lehman Brothers Holdings Inc. and a British affiliate of Bank of New York Mellon Corp. that divides $70 million in contested collateral between Lehman and a noteholder received a judge's blessing Wednesday, ending an adversary proceeding that stretched all the way to the U.K. Supreme Court.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York approved the settlement, which calls for the underlying collateral to be sold and divided between Lehman and noteholder Perpetual Trustee Co....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.