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Lehman​ ​Deal ​Looks To End MBS Claims For Minimum ​$2.4B

Law360, New York (June 2, 2017, 5:13 PM EDT) -- Trustees overseeing hundreds of mortgage-backed securities trusts that left a $6 billion unpaid bill when Lehman Brothers imploded agreed Thursday to settle all their repurchase claims for north of $2 billion and potentially much more.

The trustees had been the lone holdouts to the tripartite settlement in New York bankruptcy court, in which Lehman Brothers Holdings Inc. will agree to ask for a $2.4 billion claim amount, setting what the trustees view as a functional floor. Lehman had said yes in March, joined by a group...
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