Lehman Settles $4.5B Claim With London Objector

Law360, New York (August 23, 2011, 4:20 PM EDT) -- The group that leased London offices to Lehman Brothers Holdings Inc. said Monday that it has reduced its claim against the bankrupt investment bank from about $4.5 billion to $780 million and will not oppose Lehman's plan confirmation.

Canary Wharf Group PLC leased offices to Lehman in a 33-story tower on Bank Street in London's new Canary Wharf development until Lehman became insolvent in 2008. Several entities connected with the group filed lease-related claims against Lehman in September 2009 totaling $4.48 billion. The Canary Wharf entities...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.