Lehman Drops $54M Axa Trade Fight For $8.6M

Law360, New York (April 6, 2011, 6:14 PM EDT) -- Lehman Brothers Holdings Inc. on Tuesday sought New York bankruptcy court approval of an $8.6 million settlement with two Axa private equity funds that resolves Lehman’s U.K. lawsuit over the funds’ acquisition of roughly $54 million of mezzanine debt.

Lehman submitted the settlement for Judge James M. Peck’s approval in the U.S. Bankruptcy Court for the Southern District of New York now that its subsidiary Commercial Paper Inc. agreed to end litigation with Axa over a transaction in the weeks before Lehman’s Sept. 15, 2008, collapse....
To view the full article, register now.