Lehman Gets Developer's Counterclaims Nixed In $400M Row

Law360, New York (August 31, 2012, 6:09 PM EDT) -- A New York bankruptcy judge on Thursday dismissed unjust enrichment counterclaims developer Jeffrey Soffer and his Fontainebleau Resorts LLC filed against Lehman Brothers Holdings Inc. over a $400 million construction loan, saying the claims relied on a voluntarily withdrawn fraudulent inducement counterclaim.

U.S. Bankruptcy Judge James M. Peck granted Lehman's Jan. 13 motion to dismiss for failure to state a valid cause of action after the defendants on June 13 agreed to withdraw count 1 of their counterclaims, for fraudulent inducement/concealment, and the parties failed to...
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