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