LCBF client obtains $767 million recovery in Lehman bankruptcy

The United States Bankruptcy Court for the Southern District of New York has approved a settlement consisting of an immediate cash payment of $767 million to resolve the claims of LCBF client Freddie Mac. Freddie Mac's claims involved complex derivative transactions, short term loan transactions, and mortgage seller/servicer related obligations. Lehman’s demise in 2008 resulted in one of the largest and most complex bankruptcies in U.S. history. LCBF’s team, headed by Mark Landman and Sophia Ree, was responsible for filing Freddie Mac’s proofs of claim and in pursuing the claims and, with the conservator's counsel, negotiating the settlement.