Fontainebleau Counterclaims Stay Put In Lehman Case

Law360, New York (February 15, 2012, 9:02 PM EST) -- A New York bankruptcy judge on Wednesday declined to grant Lehman Brothers Holdings Inc.'s bid to dismiss counterclaims filed by developer Jeffrey Soffer and his Fontainebleau Resorts LLC over a $400 million construction loan, though he warned the defendants that their arguments are tenuous.

Soffer and Fontainebleau filed the fraud counterclaims in September, alleging Lehman's misrepresentations about its financial condition before the 2008 crash induced them to enter into a complex loan arrangement with the lender, which in turn caused Fontainebleau and related properties to fold....
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