Lehman to Settle ‘Saphir’ Derivatives Dispute With Perpetual - BusinessWeek

<a href="http://www.businessweek.com/news/2010-11-20/lehman-to-settle-saphir-derivatives-dispute-with-perpetual.html">Lehman to Settle ‘Saphir’ Derivatives Dispute With Perpetual - BusinessWeek</a>: "Bankrupt Lehman Brothers Holdings Inc. reached a settlement in a derivatives dispute with billions of dollars at stake that divided courts in the U.S. and the U.K.<br />The legal fight centered on which entity should be paid first from collateral under two transactions: Lehman or the holder of notes issued by a special-purpose vehicle created by Lehman known as Saphir.<br />Lehman Brothers Special Financing Inc. reached a settlement with the Australian noteholder, Perpetual Trustee Co. Ltd., according to a court document dated Nov. 17. The filing, which Lehman said was made in federal court in Manhattan, couldn’t be confirmed in court records. Kimberly Macleod, a Lehman spokeswoman, declined to comment on the terms of the accord."

Lehman to Settle ‘Saphir’ Derivatives Dispute With Perpetual - BusinessWeek

Lehman to Settle ‘Saphir’ Derivatives Dispute With Perpetual - BusinessWeek : "Bankrupt Lehman Brothers Holdings Inc. reached a settlem...

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