Lehman Just Won’t Die as London Cases Delay Final Reckoning
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Two court cases in one day show that nearly seven years after the collapse of Lehman Brothers Holdings Inc., London lawyers are still fighting over deals that blew up in September 2008.
On Tuesday, a London judge ordered Lehman’s Swiss unit to pay about $62 million to an Italian pension fund for losses on a hedge fund transaction. In another courtroom, about 500 yards away, the administrators of U.K.-based Lehman Brothers International Europe got approval for a trial in the case against an Exxon Mobil Corp. unit over a $250 million deal.