Lehman shortcut could slash value of derivatives claims
Proposed derivatives settlement framework may knock billions of dollars off dealers’ derivatives claims against the bankrupt estate
A proposal to settle all outstanding derivatives claims against Lehman Brothers Holdings Inc (LBHI) is being fiercely opposed by a group of dealers, which believe it could slash the total value of their claims by anything from $5 billion to $10 billion.
According to the administrators of LBHI, Alvarez & Marsal, the proposals were presented to a group of 13 dealers in mid-December, of which nine
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