Mich. Agency Loses Bid For Review Of Lehman Row

Law360, New York (September 19, 2011, 7:09 PM EDT) -- A Michigan housing authority on Wednesday lost its bid for New York federal court review of a bankruptcy judge's interpretation of how swap contracts should be handled in a suit targeting Lehman Brothers Holdings Inc. over derivatives transactions.

U.S. District Judge John Koeltl refused to look into the matter, denying the Michigan State Housing Development Authority's motion to withdraw the adversary proceeding reference and closing the case.

The matter the plaintiff is challenging involves the Southern District of New York bankruptcy court's Sept. 20, 2010, order in related proceeding Lehman Brothers Special Financing Inc. v. BNY Corporate Trustee Services Ltd....

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