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Lehman Moves To Let Insurers Pay Defense Costs

Law360 (February 26, 2009, 12:00 AM EST) -- Lehman Brothers Holdings Inc. has asked a federal bankruptcy court to modify a stay in its Chapter 11 case so that its third-party insurers can cover defense costs for the investment bank’s current and former directors and officers who have been targeted in a string of lawsuits and investigations.

Lehman filed a motion with the U.S. Bankruptcy Court for the Southern District of New York on Thursday seeking relief from the automatic stay in the case in order to allow the insurers to start paying the...
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