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Home » News » Lehman Brothers Asks Bankruptcy Court to Reject Freddie’s ‘Priority’ Claim, Court Dismisses UBS Suit
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Lehman Brothers Asks Bankruptcy Court to Reject Freddie’s ‘Priority’ Claim, Court Dismisses UBS Suit

September 20, 2013
Five years after it filed for Chapter 11 protection, the remains of the investment bank Lehman Brothers is asking a New York bankruptcy judge to rebuff a legal claim by Freddie Mac that would put the GSE at the front of the line of creditors. In papers filed with U.S. Bankruptcy Court in Manhattan last week, Lehman Brothers Holdings Inc. said that Freddie is not entitled to a “priority recovery” under Lehman’s confirmed plan of reorganization as the GSE seeks to recover $1.2 billion in unpaid loans. Freddie had been...
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