Lehman Brothers Unit Wins S. Korean Court Case on Derivatives
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A European unit of Lehman Brothers Holdings Inc. won a South Korean court case raised by Korea Investment & Securities Co., which sought to recover 353 billion won ($314 million) of losses on credit-linked notes it bought before the U.S. investment bank’s collapse.
The Seoul Southern District Court today dismissed a request by a Korea Investment unit, which was seeking repayment of principal and interest from Lehman Brothers International Europe, according to a document posted on the court’s website.