Originally posted on August 31, 2016
New York, NY
Lehman Brothers Holdings Inc. on Tuesday asked a New York judge to wipe out billions of dollars’ worth of claims arising from investor losses tied to faulty residential mortgage-backed securities that the firm sold before filing for bankruptcy in September 2008.
Attorneys representing the Lehman estate filed an objection that seeks to disallow and expunge 36,351 mortgage-backed securities claims brought by a group of trustees that oversee RMBS securitization trusts. Although the dispute has gone on for several years, Lehman claims that the trustees still have…
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