$2.4B Lehman RMBS Deal Draws Investor Side-Eye

Law360, New York (June 7, 2017, 9:52 PM EDT) -- Institutional investors holding a large slice of hundreds of millions of Lehman Brothers-related residential mortgage-back securities trusts put a New York bankruptcy court on notice Tuesday that they're dubious of a deal announced days ago that would set a $2.4 billion floor for the trusts' resolution, pointing to numerous provisions that would bar future legal claims.

Eleven investment management entities, including Tilden Park Capital Management LP, Prophet Capital Asset Management and Strongbow Fund Ltd., told the judge they have issues with a deal under which the...
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