Lehman Brothers Holdings Inc. (LEH)

Parties settle dispute over documents

* Settlement details not immediately unavailable

* Judge gives Lehman green light to auction NYC building (Recasts first sentence, adds plans by Lehman to sell property, mortgage portfolios)

By Nick Brown

NEW YORK, June 15 (Reuters) - Lehman Brothers Holdings Inc (LEHMQ.PK) has resolved a document production dispute with Goldman Sachs Group Inc (GS.N) in an ongoing fight over whether Goldman had a role in rumors Lehman believes exacerbated its collapse.

The two sides announced the settlement at a hearing on Wednesday in U.S. Bankruptcy Court in Manhattan before Judge James Peck, but did not immediately give details.

Lehman asked Goldman in March to produce papers relating to rumors that may have played a role in its collapse -- and that it says may have originated from Goldman employees. Goldman has said its trading records show it had no financial motive to harm Lehman.

In May, Lehman accused Goldman of intentionally moving at a "glacial" pace to run out the statute of limitations, and asked a judge to impose a two-week time limit for Goldman to produce the documents.

In court papers filed Monday evening, Goldman said it should be reimbursed by Lehman for the cost of defending against the failed bank's attempts to "harass" it with unreasonable demands for speedy document production.

Goldman said in the filings that it has worked "diligently" to cooperate with the document request.

Lehman filed the biggest bankruptcy in U.S. history in September 2008. Goldman is part of a group of banks fighting with Lehman and others for control of the roughly $60 billion payback plan for creditors.

Lehman has said it wants to probe "rumor mongering" that it says undermined its reputation and contributed to the shortselling it contends had a role in its collapse.

REAL ESTATE

Also on Wednesday, Peck gave Lehman the green light to auction a former office building in Manhattan, overruling an objection from a group of Lehman bondholders.

Lehman, which was forced to foreclose on the building after a developer could not repay nearly $230 million in loans, has reached a $161.5 million minimum or "stalking horse" agreement with an entity called 1107 Broadway Owner LLC, and plans to hold an auction June 29.

The bondholders, an ad hoc group led by hedge fund Paulson & Co, called the agreement a "bad business deal," saying it supplies less than half of what creditors are owed on the properties.

Gerard Uzzi, an attorney for the bondholders, said the proposed price does not represent a premium on the property's market value.

Bill Fitts, a managing director at Alvarez & Marsal, the firm in charge of Lehman during its bankruptcy, said at Wednesday's hearing that he thought there was a "significant chance" the ultimate auction price will exceed the stalking horse figure. He said the deal will avoid costly litigation.

http://www.reuters.com/article/2011/06/15/...ealEstateNews&rpc=43  

http://en.wikipedia.org/wiki/Lehman_Brothers  

"Settlement details not immediately unavailable" ist ganz offenbar völliger Quatsch.

"Settlement details unavailable" oder
"Settlement details not immediately available" würde wohl Sinn machen, aber so..?

Der REUTERS-Artikel scheint ein wenig überhastet zusammengeschustert.

Hier 'mal eine VOLUMEN-Schätzung für Nasdaq-LEHMAN:

Wir werden die grüne Linie schon sehr bald nicht nur erreichen, sondern überschreiten...

Teras: "Settlement details not immediately unavailable".   09:09 #7928  "Settlement details not immediately unavailable" ist ganz offenbar völliger Quatsch.

"Settlement details unavailable" oder
"Settlement details not immediately available" würde wohl Sinn machen, aber so..?

Der REUTERS-Artikel scheint ein wenig überhastet zusammengeschustert.  

kommt man da wahrscheinlich nicht mehr unter 0,045 € rein - hätte doch am freitag noch zuschlagen sollen. jetzt läuft man "wie teras" so schön sagt wieder hinterher  

Failed investment bank Lehman Brothers has agreed to sell its majority ownership stake in the former International Toy Center building to a real-estate fund run by J.P. Morgan Asset Management in a deal that values the building at about $700 million, people familiar with the matter said.
Lehman has agreed to sell its stake in 200 Fifth, above left. The failed investment bank has set a foreclosure auction on 1107 Broadway, right.
.The deal marks a big turn for 200 Fifth Avenue, an 800,000-square-foot building by Madison Square Park bought by Lehman and L&L Holding Co. for $480 million at the market's peak in mid-2007. By 2009, it was struggling amid high vacancy and a real-estate market in which values had plummeted.

But the owners subsequently landed as a tenant the popular Italian food marketplace Eataly, and then signed a large lease with Tiffany & Co. Further, in the past 18 months, values in New York City have been racing back to near-peak levels amid robust investor demand.

It's not clear, however, whether Lehman made or lost money on the investment because 200 Fifth's owners spent an enormous amount to upgrade the property to attract its high- profile tenants.

This spring, Lehman tapped brokerage Eastdil Secured to find a buyer for its ownership stake, which exceeds 90%, people familiar with the matter said. L&L, a venture led by commercial real estate broker-turned-developer David Levinson, operates the property and will remain an owner.  

The managers of Lehman's assets have previously pointed to the building's turnaround as vindication of their strategy to hold on to many of the failed bank's investments through the downturn.

Lehman's investment next door at 1107 Broadway, for which it lent more than $300 million, has fared less well. Also part of the former Toy Center, the building was initially slated to become apartments. Now it sits mostly empty and in default on the Lehman-held debt.

Lehman has scheduled a foreclosure auction on 1107 Broadway for Wednesday. L&L, which currently has no connection to that property, already has submitted a preliminary bid.

http://online.wsj.com/article/...030280680382.html?mod=googlenews_wsj  

 

http://www.finanztreff.de/kurse_einzelkurs_detail,i,125696.html  

http://www.ariva.de/chart/?secu=2468  

einen anderen chart einstellen. vielleicht klappts diesmal

http://www.ariva.de/chart/?secu=2468  

 

Nicht schlecht, da ist sich aber einer ziemlich sicher in welche Richtung es geht...  

 

aber bei wamu läufts richtig schlecht.  

http://www.world-of-stocks.com/individual_values/lehmq  

zieht uns heute runter :-((  

wieder hoch...

 

 

wir dackeln WaMu wie immer brav hinterher.

Wird Zeit dass der Hund mal das Herrchen überholt ;-)

 

Kaum schreib ichs geht WaMu weiter gen Norden und wir drehen uns um und laufen Richtung Süden. So wars nicht gedacht!

 

schließen wieder bei 0,055  

Mal schauen ob sich dann der Dackel vom Herrchen absetzen kann... ;-)

 

Mann, war das heute wieder ein GEWÜRGE:
STUNDEN-lang gewartet, doch kaum VOLUMEN...

mm200-entweder runter oder rauf