RBS Can't Nix Lehman Trustee's $345M Contract Claim

Law360, New York (September 27, 2011, 3:55 PM EDT) -- A New York bankruptcy judge on Monday refused to dismiss a claim against the Royal Bank of Scotland Group PLC alleging the bank owes defunct financial giant Lehman Brothers Inc. $345 million under a foreign currency transaction contract.

In June, Lehman trustee James M. Giddens filed a motion to compel payment against RBS, claiming the bank was withholding the money "in order to gain leverage and an improper advantage over LBI, its estate and other creditors."

The bank countered that the motion was improper and pledged...
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