$152M Freed For Lehman Creditors In 2 Deals

Law360, New York (August 23, 2012, 3:24 PM EDT) -- A New York bankruptcy judge on Thursday approved two key deals for the Lehman Brothers estate, one with private equity firm WL Ross & Co. and one with Deutsche Bank National Trust Co., freeing up more than $152 million for creditors of the failed investment bank.

The first deal will allow investment tycoon Wilbur Ross Jr. to solidify his holdings in propane transporter Navigator Holdings Ltd., while the second ends a two-year legal battle over trustee services Deutsche Bank provided for derivative contracts in the runup...
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