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. Ltd. and for appeals in the U.S. and U.K. to be dismissed, during a hearing...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS