Wells Fargo At Center Of $137M Lehman CDS Spat

Law360, New York (February 6, 2009, 12:00 AM EST) -- Wells Fargo Bank NA has asked the judge overseeing the Lehman Brothers Holdings Inc. Chapter 11 proceedings for permission to deposit $137 million it is holding as trustee to a $400 million credit default swap agreement into an escrow account until Lehman and its CDS partner can settle a dispute over the money.

In an answer and complaint interpleader filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, Wells Fargo asked the court to allow it to deposit and maintain the...
To view the full article, register now.
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.