Law Firms

The team winding down the remnants of Lehman Brothers Holdings Inc. has reached a far-ranging settlement resolving Fannie Mae’s $18.9 billion claim stemming from mortgage loans and mortgage-backed securities the failed investment bank sold to Fannie Mae before the financial crisis.

Hedge-fund manager Stephen Ketchum on Wednesday said he couldn’t recall if Dish Network Corp. Chairman Charlie Ergen wanted to acquire a powerful “blocking” position in LightSquared ’s debt even though evidence presented to him suggested he knew that Mr. Ergen did. Read the Daily Bankruptcy Review article here.

A judge ruled that Detroit was eligible for Chapter 9 bankruptcy protection, The Wall Street Journal reports.

Several former Dewey & LeBoeuf LLP partners face lawsuits demanding nearly $10 million, part of a continuing quest to recover the tens of millions of dollars attorneys received before the law firm’s demise. Read the Daily Bankruptcy Review article here.

Bank lenders Monday officially ratcheted down the pressure on Overseas Shipholding Group Inc. after the tanker company unveiled financial projections that will be the basis for restructuring talks. Read the Daily Bankruptcy Review article here.