Lehman Trustee Trims $8.5M Off Affiliate's Claim

Law360, New York (June 17, 2013, 5:06 PM EDT) -- Lehman Brothers Inc.’s trustee on Monday secured a deal that will shave $8.5 million off a Curacao-based affiliate’s customer claim against the estate, the latest in a series of recent deals the trustee has landed to maximize the recovery of customers and general creditors.

James W. Giddens, charged with the task of winding down the fallen brokerage, said in court papers that Lehman Brothers Securities NV has reached an agreement through which the affiliate’s $10.9 million customer claim was reduced to $2.4 million. It will remain...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Lehman Brothers Holdings Inc.


Case Number

1:08-bk-13555

Court

New York Southern

Nature of Suit

Date Filed

September 15, 2008

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.