Lehman Drops $200M Loan Suit Against Bethany

Law360, New York (December 21, 2011, 9:39 PM EST) -- Lehman Brothers Holdings Inc. on Wednesday dropped its suit seeking repayment of $33.4 million of $200 million in real estate loans granted to now-defunct asset management company Bethany Holdings Group LLC.

Lehman, in conjunction with Bethany, filed a notice of voluntary dismissal a week ago, which U.S. District Judge Sidney Stein approved Wednesday.

An attorney for Lehman declined to comment on the reason the suit was dropped.

Lehman loaned Bethany $200 million to buy apartment properties in Arizona, with Terry Knutson and The Terry and Rose...
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