Lehman MBS Trial May Be Delayed After Claims Removal Row
Law360, New York (October 23, 2017, 9:36 PM EDT) -- A court-assisted process to evaluate claims against Lehman Brothers for allegedly selling billions of dollars' worth of dud mortgage-backed securities before its collapse may not begin next week as expected after the judge presiding over the case said Monday she couldn't square away efforts to remove claims without reducing damage amounts.
A multiparty agreement between Lehman Brothers Holdings Inc. and investors looking to collect from the defunct investment firm's Chapter 11 estate for the repurchase of MBS that lost value in the financial crisis, which was hailed as "impressively robust" by U.S. Bankruptcy Judge Shelley C. Chapman just months ago, may...
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