Lehman Brothers sues Intel over $1 billion in seized collateral
(Reuters) – Bankrupt investment bank Lehman Brothers has sued Intel Corp, accusing the chip maker of seizing $1 billion in collateral in breach of a swap agreement, a court filing showed. Under the swap agreement, executed days before Lehman filed for bankruptcy in 2008, Intel gave $1 billion to a derivatives unit of Lehman Brothers in exchange for 50. 5 million Intel shares, to be delivered on the settlement date of September 29, 2008, according to the filing made in a New York bankruptcy court. . . .
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