Lehman Moves To Sell Off Energy Co. For $230M

Law360, New York (October 2, 2008, 12:00 AM EDT) -- Bankrupt Lehman Brothers Holdings Inc. is seeking court approval to sell Texas-based power supplier Eagle Energy Partners LP that it purchased in May last year, saying a sale was vital to ensure the energy company continued operating.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Lehman said it had entered into a $230 million purchase agreement on Sept. 26 with the U.S. subsidiary of French energy provider EDF.

The investment bank told the court that Eagle, which...
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