Lehman, Deutsche Reach $42M Deal In Derivative Contract Row

Law360, New York (July 25, 2012, 8:39 PM EDT) -- Lehman Brothers Holdings Inc. said Tuesday that its units would receive $42 million under a proposed settlement with Deutsche Bank National Trust Co. after a two-year contract dispute with the Deutsche Bank AG unit serving as trustee for trusts the Lehman units claimed withheld funds they were owed under swap agreements.

In a motion for approval of the settlement filed in New York bankruptcy court, Lehman Brothers, the administrator under a third amended Chapter 11 plan for Lehman and its units, said the trusts will pay...
To view the full article, register now.
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.