Judge Narrows Lehman Suit Over $1.4B Assured Guaranty Fee

Law360, New York (March 15, 2013, 7:36 PM EDT) -- A New York state judge on Friday limited which contracts Lehman Brothers Holdings Inc.'s bankrupt British subsidiary can challenge as it tries to collect a $1.4 billion fee from monoline insurer Assured Guaranty Ltd. for terminating mortgage-linked securities transactions early.

Judge Marcy Friedman said that Lehman subsidiary Lehman Brothers International (Europe) can continue with its allegations that Assured Guaranty didn't act in good faith when it terminated 28 contracts in July 2009, but similar allegations over nine contracts terminated in December 2008 didn't hold muster because...
To view the full article, register now.