Lehman Brothers Sues Federal Home Loan Bank of New York Over Swaps

Lehman Brothers Holdings Inc. is suing the Federal Home Loan Bank of New York for more than $150 million over dozens of soured interest-rate swaps. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

The Philadelphia Inquirer reports that the state of New Jersey ordered the power to be kept on at the Revel casino in Atlantic City.

Etihad Airlines says the U.S.’s three biggest airlines have gotten $70 billion in benefits from bankruptcy since the year 2000, USA Today reports.

The New York Times looks at the collapse of Uruguay airline Pluna.

According to the Inquirer, Trump Tower Philadelphia’s new owners are looking at the project as a template for developing the site.

The Detroit Institute of Arts had considered selling a Van Gogh painting to buy other art but didn’t because of timing, the Associated Press reports.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa