Lehman Estate Settles Lingering Credit Swap Dispute

Law360, New York (July 21, 2014, 3:07 PM EDT) -- Lehman Brothers Holdings Ltd. on Friday unveiled a settlement ending a dispute over the $144 million in collateral securing notes covered by a credit default swap arrangement that the swap counterparty terminated in the wake of Lehman's 2008 bankruptcy.

The Lehman bankruptcy administrator requested court approval for a settlement and indemnity pact between Lehman Brothers Special Financing Inc. and The Bank of New York Mellon Trust Co. NA in its capacity as indenture trustee for notes issued by special purpose investment entity MKP Vela CBO Ltd....
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