November 01, 2019
The Second Circuit on Friday told a group of former Shearson Lehman Brothers Inc. workers that they need to get in line behind other unsecured creditors of the bankrupt brokerage firm for the $260 million in deferred pay they claim they are owed.
October 21, 2019
Counsel for former Shearson Lehman Brothers Inc. workers seeking $260 million in deferred pay told a Second Circuit panel Monday that employment contract clauses that would put them in line behind unsecured Lehman creditors went defunct before the firm did.
June 25, 2018
A New York bankruptcy judge on Monday approved a payout process for holders of general unsecured claims against Lehman Brothers Inc. that will allow the holders to sell their remaining interests to Deutsche Bank AG as the defunct brokerage nears the end of its wind-down.
November 02, 2016
A New York bankruptcy judge on Tuesday approved a $5.9 million settlement between Lehman Brothers Inc. and Goldman Sachs & Co. in the former's Chapter 11 case, putting to rest Goldman's claims that LBI was partially liable for securities litigation against Goldman.
June 29, 2016
The court-appointed trustee tasked with distributing the proceeds of the liquidation of Lehman Brothers began the latest distribution to unsecured creditors Wednesday, with a plan of sending out $677 million from the estate of the banking institution that filed for bankruptcy in 2008.
May 18, 2016
The court-appointed trustee overseeing the liquidation of Lehman Brothers' failed brokerage firm sought a New York bankruptcy judge's approval Wednesday to distribute $677 million to unsecured creditors, which he said would bump their recovery to 38 percent.
April 29, 2016
Hughes Hubbard & Reed LLP’s fees for overseeing the liquidation of Lehman Brothers’ failed brokerage firm have topped $371.5 million, according to papers filed Thursday in New York federal court amid the Herculean effort of guiding one of the most complex bankruptcies in U.S. history.
November 23, 2015
A New York bankruptcy judge on Monday wiped out FirstBank Puerto Rico's $61.5 million claim against Lehman Brothers Inc. over a soured interest rate swap agreement, ruling that the bank doesn't qualify as a customer under a federal law designed to protect securities investors.
October 08, 2015
A New York bankruptcy judge nixed the bulk of former Lehman Brothers Inc. star trader Jonathan Hoffman's $83 million claim for bonuses he said he was entitled to, ruling Wednesday that Hoffman was already paid what he was owed by Barclays PLC when the bank acquired Lehman's brokerage business in 2008.
September 03, 2015
Lehman Brothers Inc.'s liquidating trustee asked a New York bankruptcy court Wednesday to reclassify $260 million worth of claims brought under a deferred compensation plan for executives and other employees of the failed brokerage business.