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Lehman Seeks OK for $767M Settlement with Freddie Mac

tulsaworld.com | February 16, 2014

Lehman Brothers Holdings Inc. asked a judge to approve a $767 million settlement with Freddie Mac to pay off a $1.2 billion bankruptcy claim, one of the biggest remaining against the defunct bank.

The deal with the government-controlled mortgage-finance company will make hundreds of millions of dollars available for "prompt distribution" to creditors after being held in reserve as a result of the dispute, Lehman said Wednesday in a filing in U.S. Bankruptcy Court in New York.

"Absent the settlement agreement, this cash would remain trapped," Lehman's lawyers said in the filing. The dispute stemmed partly from Freddie Mac's attempt to give its claim a higher priority than those of other creditors.

Lehman on Jan. 31 won court approval of a similar deal with Fannie Mae, a related mortgage company, agreeing to a value of $2.15 billion for its $18.9 billion claim.


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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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