Lehman Inks $767M Deal To Resolve Freddie Mac Claim

Law360, New York (February 13, 2014, 1:51 PM EST) -- Lehman Brothers Holdings Inc. on Wednesday agreed to pay $767 million to settle Freddie Mac’s $1.2 billion claim, freeing up the $1.2 billion cash reserve that was set aside for the government enterprise so it can now be distributed to creditors.

Lehman filed court papers in bankruptcy court Wednesday afternoon seeking approval of the settlement, which will make hundreds of millions of dollars available for distribution.

“With this settlement, the plan administrator favorably resolves two of the largest remaining claims against LBHI,” attorneys for the fallen...
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

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.