The Daily Docket: Lehman Seeks To Lower Banks’ Loss Claims

Lehman Brothers Holdings Inc. is asking a bankruptcy judge to slash at least $35 billion from what some of Wall Street’s biggest banks claim they are still owed from the investment bank over losses tied to residential mortgage loans that Lehman packaged and sold to investors at the height of the housing bubble. Read the Daily Bankruptcy Review article here.

Delaware’s chief bankruptcy judge has become the third member of the influential corporate tribunal to make a company-friendly reading of a U.S. Supreme Court decision that created a furor in the world of big-ticket bankruptcies. Click here to read the article in DBR Small Cap.

(The Daily Bankruptcy Review and DBR Small Cap are daily newsletters with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial to DBR, click here. For DBR SC, click here.)

According to The Wall Street Journal, investigators searching for $1.2 billion in missing money from customers of MF Global Holdings Ltd. are looking at back-office operations in Chicago.

DealBook talks about Hostess Brands Inc.’s debts.

New Fannie Mae and Freddie Mac executives may face pay cuts, WSJ reports.

BTA Bank might skip a $166 million payment due Wednesday because it faces a risk of run on deposits, Bloomberg reports.

Deal Journal reports that Lazard has named David Kurtz as global head of restructuring.

Ireland’s former richest person, Sean Quinn, has been declared bankrupt, the Associated Press reports.

Credit Slips wants to thank readers for responding so well to a call for their favorite bankruptcy/restructuring lingo.

Business-oriented magazine publisher Hanley Wood reduced its debt by $330 million through a reorganization, DealBook reports.

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