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Bankrupt Lehman Completes $5.4 Billion Archstone Restructuring

Dec. 3 (Bloomberg) -- Lehman Brothers Holdings Inc. completed a restructuring of apartment-complex owner Archstone, its largest real estate asset, by finishing the conversion of $5.4 billion of debt to equity, according to a court filing today.

The latest debt-to-equity swap consisted of $237 million of loans, according to bankruptcy court documents.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net.

To contact the editor responsible for this story: David E. Rovella at drovella@bloomberg.net.

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