Lehman opts to settle over Dante flip-clause transactions

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The Lehman Brothers Holding Inc (LBHI) administration has decided to reach an out-of-court settlement with Australian investment services group Perpetual Trustee over disputed collateral in a series of credit-linked notes issued by Saphir Finance - a special-purpose vehicle (SPV) established by Lehman Brothers International (Europe) in 2002.

A joint motion, filed on November 17 in the US Bankruptcy Court for the Southern District of New York by Lehman Brothers Special Financing (LBSF) - the swap

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