Lehman Units End $6B Row With $550M Allowed Claims

Law360, New York (October 4, 2012, 5:13 PM EDT) -- Lehman Brothers Holdings Inc. units Lehman Brothers Inc. and Lehman Brothers Finance AG resolved a nearly $6 billion dispute Wednesday, agreeing that LBI will have no claim in its affiliate's liquidation, while LBF will get about $550 million in claims against LBI.

The liquidating trustees in the two bankruptcies — James W. Giddens is winding down LBI, and PricewaterhouseCoopers AG Zurich is liquidating LBF — filed motions in New York bankruptcy court for approval of the compromise, under which LBF will get a $189.9 million allowed...
To view the full article, register now.