Court OKs Lehman’s $160M NY Tower Sale

Lehman Brothers Holdingshas secured approval from a bankruptcy judge to sell a New York building,Bloombergreports. The property in Manhattan will be sold toL&L Holdingfor around $160 million.

Thesale was opposed byPaulson & Company, a creditor of the failed lender.Bryan Marsal, who is running Lehman and is the co-founder of restructuring firmAlvarez & Marsal, aims to raise $61 billion by offloading the lender’s assets to pay $322 billion in claims.

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