Hedge Funds Can't Look Into $1B Lehman Claim Sale

Law360, Los Angeles (October 24, 2013, 6:31 PM EDT) -- A New York bankruptcy judge on Thursday rebuffed several hedge funds' efforts to examine Elliott Management Corp.'s £650 million ($1.05 billion) purchase of an outstanding claim against Lehman Brothers Holdings Inc.'s European unit, saying the funds had presented no evidence that the transaction was suspect.

U.S. Bankruptcy Judge James M. Peck denied motions by CarVal Investors LLC, Baupost Group and others seeking to compel LBHI to produce materials relating to the transaction. The deal calls for LB Holdings Intermediate 2 Ltd., the liquidating Lehman unit's parent company,...
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