About 70 lenders sued by Lehman Brothers Holdings Inc. in the investment bank’s historic 2008 bankruptcy case can’t appeal a bankruptcy court order denying their motions to dismiss the lawsuits, a New York federal court ruled.
The ruling by Judge Valerie Caproni of the U.S. District Court for the Southern District of New York on May 8 ensures that the cases, which seek up to about $3 billion in damages, will continue in that district’s bankruptcy court.
Lehman sued more than 100 mortgage loan issuers for allegedly failing to indemnify it from losses after they claimed their loans complied with ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.