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Lehman Brothers Inc.
Case Number:
16-2547
Court:
Nature of Suit:
3422 STATUTES-Bkrup Appeals 801
Companies
Sectors & Industries:
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April 26, 2017
2nd Circ. Axes First Bank's 2nd Shot At $62M Lehman Claim
The Second Circuit on Wednesday told FirstBank Puerto Rico it can't recover $62 million in securities from the estate of Lehman Brothers Inc., finding the bank was not a customer of the bankrupt brokerage.
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April 19, 2017
FirstBank Takes 2nd Shot In 2nd Circ. In $62M Lehman Claim
FirstBank Puerto Rico returned to the Second Circuit on Wednesday in its attempt to recover $62 million in securities, or their market value, from the estate of Lehman Brothers Inc., saying it was covered as a customer under the Securities Investor Protection Act, and that LBI, as a collateral custodian, remained liable.