Lehman Reaches $1.4B Deal Over Natural Gas Purchase

Law360, New York (November 14, 2011, 7:09 PM EST) -- Lehman Brothers Holdings Inc. on Monday agreed to allow Bank of New York Mellon Corp. and Main Street Natural Gas Inc. to bring approximately $1.4 billion in claims against the failed investment bank as part of a settlement over an April 2008 natural gas deal.

The settlement, filed in New York bankruptcy court, stems from a 30-year natural gas purchase agreement Main Street reached with Lehman unit Lehman Brothers Commodity Services Inc. in April 2008. To fund the agreement, Main Street issued over $681.6 million in...
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