Lehman Brothers Holdings Inc.

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Case overview

Case Number:

1:08-bk-13555

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

October 19, 2017
RMBS Trustees Defend $11.4B Breach Claim Against Lehman

Residential mortgage-backed securities trustees and Lehman Brothers Holdings Inc. squared off in New York bankruptcy court Thursday on the value of claims submitted in the wake of the financial crisis, with the trustees arguing that their "straightforward breach of contract claims" are worth $11.4 billion, while the shuttered bank argued they're worth $2.38 billion or less.
October 02, 2017
Citibank To Return $1.74B In Deal With Lehman Bros.

Citibank NA has agreed to return $1.74 billion to the Lehman Brothers estate after reaching a settlement with the defunct investment firm and its unsecured creditors several weeks into a bankruptcy court trial over the valuation of about 30,000 derivatives trades that went into default after Lehman's collapse.
July 06, 2017
Lehman Judge Signs Off On MBS Claims Estimation Deal

A compromise years in the making to resolve claims against Lehman Brothers for selling billions of dollars' worth of dud mortgage-backed securities before its collapse by using a court-assisted estimation process was approved by a New York bankruptcy judge Thursday, who hailed the deal as "impressively robust."
July 03, 2017
Lehman Throws Support Behind RMBS Settlement

Lehman Brothers Holdings Inc. urged a New York bankruptcy court on Friday to approve a grand bargain to end claims over billions of dollars' worth of dud financial-crisis-era mortgage-backed securities that it sold to investors who were left holding them after the bank's failure.
June 07, 2017
$2.4B Lehman RMBS Deal Draws Investor Side-Eye

Institutional investors holding a large slice of hundreds of millions of Lehman Brothers-related residential mortgage-back securities trusts put a New York bankruptcy court on notice Tuesday that they're dubious of a deal announced days ago that would set a $2.4 billion floor for the trusts' resolution, pointing to numerous provisions that would bar future legal claims.
May 03, 2017
Citibank Exec Defends Trade Valuations At $2B Lehman Trial

Citibank's head of global credit trading on Wednesday defended the methods used by his traders to calculate the costs of replacing about 30,000 derivatives trades that went into default following Lehman Brothers' 2008 collapse, as Citi seeks to justify a $2 billion claim against the shuttered investment firm.
April 11, 2017
Lehman, Home Loan Bank Wrangle Over Docs Midtrial

Lehman Brothers Holdings Inc. leveled midtrial accusations Monday that Federal Home Loan Bank of New York withheld documents needed to prove claims Lehman suffered $115 million in unnecessary swaps losses when FHLB breached a trading agreement after the investment bank collapsed in 2008.
April 03, 2017
Lehman Attacks Bank's Timing At Start Of $115M Swaps Trial

Lehman Brothers Holdings Inc. kicked off a trial Monday against Federal Home Loan Bank of New York, claiming it suffered unnecessary losses of about $115 million when FHLB breached a trading agreement and undervalued numerous interest rate swaps that went belly up after the investment bank collapsed in 2008.
April 03, 2017
BlackRock, Others Back $2B Deal With Lehman Estate

Fourteen institutional investors, including a unit of BlackRock Inc., said Monday that the estate of Lehman Brothers Holdings Inc. has offered to pay more than $2 billion to settle a suit over the defunct bank's failure to repurchase dud mortgages that it sold to investors before the financial crisis.
March 01, 2017
Lehman Slams Citibank's Bid For Early Win In $2B Setoff Suit

Lehman Bros. Holdings Inc. urged a New York bankruptcy judge Tuesday to reject Citibank NA's bid for an early victory over the defunct investment firm's claims that the bank has wrongfully retained $2 billion worth of Lehman funds since its bankruptcy, saying that money was never intended for setoff purposes.

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