Lehman To Buy $925M Notes From Barclays
Lehman Brothers has proposed two settlements scheduled for approval in bankruptcy court on April 13.
Lehman Brothers has proposed two settlements scheduled for approval in bankruptcy court on April 13, Bloomberg reports. The bankrupt bank has proposed to purchase notes worth $924.7 million from Barclays for $805 million. Lehman Commercial Paper will buy the notes from Barclays, gaining control of all of the debt of Pine CCS and Pine’s underlying assets. Lehman has also agreed to compromise $34.2 million in claims against Aegis Mortgage, which was among the 15 biggest U.S. subprime lenders before it went bankrupt.
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