Syncora Holdings Ltd. (fka SYCRF)

[irishintelligence]

According to the settlement agreement, at the estimation proceeding Lehman will ask the Court to estimate the RMBS claims in an amount no less than $2.416 billion. The RMBS Trustees have the ability to seek estimation at a higher amount and likely will argue that the claims are worth more than $2.416 billion. Both Lehman and the RMBS Trustees are expected to present expert testimony during the estimation hearing and call additional witnesses to testify.

The parties have requested that the Bankruptcy Court schedule the estimation proceeding as early as October 2017. The parties anticipate the estimation proceeding will last 14 days, with time equally allocated between sides.

The estimation hearing will be a major showdown between the Lehman estate and the RMBS Trustees who have litigated these claims for years.


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