Judge Freezes $137M In Lehman CDS Claim Spat

Law360, New York (April 21, 2009, 12:00 AM EDT) -- A judge has ordered trustee Wells Fargo NA to hold onto more than $137 million in proceeds from a disputed credit default swap agreement between Lehman Brothers Special Financing and one of its partners, pending a decision on Wells Fargo’s interpleader motion to determine who will receive the payout.

Judge James M. Peck signed off Monday on an agreement between LB Special Financing, investors from Ballyrock ABS CDO 2007-1 Ltd. and a trustee from Wells Fargo that would maintain the status quo of the $137 million,...
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