Fall Bench Trial Set For Lehman Bros' CDS Insurer Fight

Law360, New York (June 10, 2021, 10:22 PM EDT) -- A New York state judge on Thursday set an October bench trial date for a lawsuit by Lehman Brothers' bankrupt European unit that accuses an Assured Guaranty Ltd. affiliate of failing to make good on hundreds of millions of dollars worth of credit default swap trades after the 2008 financial crisis.

During a video conference hearing, New York Supreme Court Justice Melissa Crane said she would aim to have the trial begin on Oct. 18, nearly a decade after Lehman first brought the suit, complaining that the monoline insurer did not act in good faith when it terminated 28 contracts in...

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