Lehman Wants Fontainebleau Loan Counterclaims Booted

Law360, New York (January 17, 2012, 7:20 PM EST) -- Lehman Brothers Holdings Inc. asked a New York bankruptcy court on Friday to throw out counterclaims filed by developer Jeffrey Soffer and his Fontainebleau Resorts LLC over a portion of a $400 million construction loan, saying Soffer hadn't provided any facts that supported his allegations of fraud.

"They do not allege the who, what, when, where or why for any alleged misrepresentation or fraudulent omission," Lehman said in its motion to dismiss the countersuit, which accuses Lehman of hiding its troubled financial condition before Soffer guaranteed...
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.