Lehman Preferred Series "J" Preferred (fka LEHJQ)

[DJN]

CalPERS Loses $17M Lehman Debt Swap Bid

http://www.law360.com/registrations/user_registration?article_id=148785&concurrency_check=false

Law360, New York (February 10, 2010) -- The court overseeing the bankruptcy case of Lehman Brothers Holding Inc. has nixed a bid by the California Public Employees' Retirement System to deduct the $17 million CalPERS owes Lehman from the $433 million Lehman owes the pension fund.

On Tuesday, the U.S. Bankruptcy Court for the Southern District of New York denied a motion by CalPERS for relief from the automatic stay, which is currently preventing CalPERS from...