Lehman Settles With Bermuda Affiliates For $1B

Law360, New York (February 28, 2012, 11:29 PM EST) -- Lehman Brothers Holdings Inc. on Tuesday asked the New York bankruptcy court overseeing its Chapter 11 case to approve a $1 billion settlement that resolves $2.3 billion in claims asserted by several of the defunct investment bank's Bermuda-based affiliates.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, LBHI said the settlement resolves all asserted claims between LBHI's U.S.-based affiliates and Lehman Re Ltd., its subsidiary Congress Life Insurance Co. and its creditor Pulsar Re Ltd.

“In the debtors'...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Lehman Brothers Holdings Inc.


Case Number

1:08-bk-13555

Court

New York Southern

Nature of Suit

Date Filed

September 15, 2008

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.