Lehman Trustee Fights Citigroup's Bid To Nix $1.3B Suit

Law360, New York (August 10, 2011, 5:19 PM EDT) -- Lehman Brothers Inc.'s liquidation trustee on Friday renewed a bid in New York to recover $1.3 billion seized by Citigroup Inc. after the broker-dealer's parent Lehman Brothers Holdings Inc. went bankrupt, the latest move in a dispute over whether the funds are protected swaps.

Trustee James W. Giddens filed the opposition to Citigroup's May attempts to dismiss most of the suit and to lift the bankruptcy stay, saying the claims were entirely without merit.

"The trustee believes that Citibank’s motions should be rejected by the court...
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